U.S. Department of Justice approval has no immediate implications for
TORONTO, March 24 /CNW/ - XM Canada (TSX: XSR) today announced that the recent U.S. Department of Justice approval of the merger between U.S. companies XM Satellite Radio Inc. and Sirius Satellite Radio Inc., will have no immediate impact on XM Canada's service offering to subscribers.
"We have a strong business model in Canada and are committed to an aggressive growth strategy aimed at increasing our subscriber base and delivering outstanding programming right across the country," said Michael Moskowitz, President and CEO of XM Canada. "We are excited about XM Canada's prospects as 60 per cent of all new vehicles made by Canada's automotive manufacturers are equipped with XM satellite radios, we now have exclusive NHL satellite radio broadcast rights and we now have 400,000 subscribers. We will diligently review any opportunity that arises from this decision and evaluate the impact on our economic positioning and the benefit derived for our customers and shareholders."
XM Canada will provide further comment when there are new developments from the U.S. Federal Communications Commission or the U.S. Department of Justice. XM Canada has an exclusive Canadian license from U.S.-based XM Satellite Radio Inc., the worldwide leader in satellite radio.
Canadian Satellite Radio Holdings Inc.
Canadian Satellite Radio Holdings Inc. (TSX: XSR) operates as XM Canada(TM). XM is Canada's premium digital audio entertainment and information company with the best signal coverage across the country.
With 130 channels, XM Canada offers listeners the most unique Canadian and international programming including exclusive satellite radio coverage of EVERY NHL(TM) GAME, as well as PGA TOUR(TM) and Major League Baseball(TM), the deepest play list, and news, talk, sports, entertainment and children's content. Acura, Buick, Cadillac, Chevrolet, General Motors, GMC, Harley Davidson, Honda, Hummer, Hyundai, Infiniti, Lexus, Nissan, Pontiac, Toyota, Saab, Saturn, Suzuki and Subaru will offer XM radios in more than 150 different vehicles for model year 2008.
XM Satellite Radio Inc. is the number one satellite radio company in North America with more than 8 million subscribers. In Canada, XM is offered on TELUS Mobile Radio(TM) and Rogers Communications wireless, cable and Internet platforms and is also the exclusive music channel provider on Air Canada's flights and is available in select Avis Budget Group rental vehicles.
A free three-day trial of XM Radio Online is available at http://listen.xmradio.ca. Visit www.xmradio.ca for programming and subscription information. To find out more about Canadian Satellite Radio Inc. (TSX: XSR), visit our website at www.cdnsatrad.com.