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SiriusXM Canada welcomes CRTC decision for six year licence renewal
By: PR Newswire
Nov. 16, 2012 08:00 PM
TORONTO, Nov. 16, 2012 /CNW/ - Canadian Satellite Radio Holdings Inc. ("SiriusXM Canada") (TSX: XSR), the country's leading audio entertainment company, today provided the following statement regarding today's CRTC decision.
"We welcome today's decision from the CRTC and thank the Commission for granting an extended six year licence term," said Mark Redmond, President and CEO, SiriusXM Canada. "We believe we made a strong case to level the playing field between satellite and terrestrial radio with respect to the rates charged for Canadian Talent Development, but they did not agree. With a one per cent reduction SiriusXM Canada will continue to be a leading contributor to and supporter of Canadian talent. SiriusXM Canada's balance sheet is strong and we are well positioned for future growth. The best is yet to come and we look forward to continuing to offer the very best in audio entertainment to our more than 2 million subscribers throughout Canada."
The CRTC also approved SiriusXM Canada's request for a single broadcasting licence.
About SiriusXM Canada
SiriusXM programming is available on a variety of devices including pre-installed and after-market radios in cars, trucks and boats, smartphones and mobile devices, and consumer electronics products for homes and offices. SiriusXM programming is also available online at www.siriusxm.ca and on Apple, BlackBerry and Android-powered mobile devices.
SiriusXM Canada has partnerships with every major automaker and its radio products are available at more than 3,000 retail locations nationwide. To find out more about SiriusXM Canada (TSX: XSR), visit our website at www.siriusxm.ca.
SOURCE SiriusXM Canada
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