SiriusXM CEO Mel Karmazin reported a 22% increase in free cash flow for the third quarter of 2011 and said "free cash flow will be the primary driver of SiriusXM's value, enabling us to invest in the business which will allow us to grow and reward investors." Free cash flow was $224 million compared to $210 million in the third quarter of 2010. In 2008, Karmazin said, the combined negative cash flow for the two companies was $550 million. Mel added, "to put it mildly, we've come a long way." Karmazin said in 2012 he expects SiriusXM's free cash flow to be $2 million every day, reaching $700 million, which would be an increase of 75% over 2011. Sirius gave guidance that 2011 free cash flow would come in at $400 million. At the close, SiriusXM was down .03 to $1.73
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