When Pierce Roberts suddenly resigned from XM Satellite Radio Holdings, the reason given was that Mr. Roberts, who had been a director, perceives trouble in the present direction of the company and sees the possibility of a significant chance of crisis on the horizon. XM, however, stated that there is no crisis on the way. Nevertheless, Mr. Roberts announcement caused XM shares to drop 5% on the Nasdaq. XM reported that its fourth quarter loss had increased to $1.22 per share over the same period a year earlier. The departure of Mr. Roberts and his comments serve to underline worry in the emerging satellite radio business, since XM and Sirius are both shedding funds heavily. XM expects positive cash flow on a sustainable basis beginning in the fourth quarter, while Sirius expects to have positive cash-flow for 2007. While Sirius has 3.4 million subscribers, XM has approximately six million. The losses are in part the result of high marketing, services, and talent acquisition costs. XM has announced an Oprah Winfrey channel, with a 30 minute show featuring Ms. Winfrey, as well as other shows featuring many of her associates. The three year deal cost $55 million, while XM's largest deal ever was a 2004 agreement to provide major-league baseball games. The latter deal runs 11 years and cost $650 million. Sirius five year deal with morning host Howard Stern cost $500 million, and due to a rise in Sirius share price, the deal is now worth about $600 million.