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XM Satellite Radio strikes financing deals

XM Satellite Radio has struck financing agreements totaling $450 million, the company said Monday. The total includes $200 million in new funds from investors, as well as $250 million in payment deferrals and related credit facilities from General Motors.

XM expects to have more than 350,000 radios sold and ready for activation by year-end, based on sales-to-date and projections, the company said.