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| XM Canada responds to FCC approval of XM Satellite Radio / Sirius Satellite Radio merger |
July 28, 2008 |
XM Canada in a strong strategic position to maximize opportunities to shareholder and customer benefit
TORONTO, July 28 /CNW/ - XM Canada(TSX: XSR) today announced it is diligently reviewing its options following the Federal Communications Commission (FCC) decision to approve a merger between U.S. companies XM Satellite Radio Inc. and Sirius Satellite Radio Inc.
"XM Canada is in a strong strategic position to maximize any opportunities that arise for the enhanced benefit of our shareholders and customers," said Michael Moskowitz, President and CEO of XM Canada. "We are now evaluating how best to leverage the FCC's decision so that we optimize our critical, market-leading advantages, which include innovative partnerships, long-term automotive contracts, steadily increasing retail market share, superior signal coverage and 130 channels of unbeatable programming. Our aggressive growth strategy is delivering improved financial performance and we are committed to providing the best service possible to our subscribers." XM Canada will provide further comment if and when there are any new developments. 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 themost 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, 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 9 million subscribers. In Canada, XM is offered on TELUS Mobile Radio(TM) and Rogers Communications wireless 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 seven-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.
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