CASPER
New member
No Changes Yet for Canadian Sat Radio Scene
While Sirius XM is now the lone satellite radio entity in the United States, thanks to completion of the Sirius/XM merger earlier this week, there's the question about how to address satellite radio operations north of the border.
Apparently, there will be no immediate moves by XM Canada and Sirius Canada, at least not yet.
The separate platforms are not majority-owned by the new entity. Before the U.S. satellite radio merger, XM Satellite Radio, now a subsidiary of Sirius XM, had a 23.3 percent interest in XM Canada. Sirius holds a 20 percent stake in Sirius Canada.
In a statement released soon after the Sirius/XM merger, Sirius Canada said the U.S. combination would have no immediate impact on its business and customers.
"Sirius' continued brand and category dominance makes it well positioned to take advantage of the growing demand for the service," said Mark Redmond, president and CEO of Sirius Canada. "We anticipate that Sirius' strong growth and leadership in automotive and at retail continues."
Michael Moskowitz, president and CEO of XM Canada, said the north-of-the-border company is in a strong strategic position "to maximize any opportunities that arise for the enhanced benefit of our shareholders and customers."
Moskowitz added, "We are now evaluating how best to leverage the Federal Communications Commission'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."
Sirius Canada serves more than 750,000 paying subscribers. XM Canada has more than 400,000 customers.
While Sirius XM is now the lone satellite radio entity in the United States, thanks to completion of the Sirius/XM merger earlier this week, there's the question about how to address satellite radio operations north of the border.
Apparently, there will be no immediate moves by XM Canada and Sirius Canada, at least not yet.
The separate platforms are not majority-owned by the new entity. Before the U.S. satellite radio merger, XM Satellite Radio, now a subsidiary of Sirius XM, had a 23.3 percent interest in XM Canada. Sirius holds a 20 percent stake in Sirius Canada.
In a statement released soon after the Sirius/XM merger, Sirius Canada said the U.S. combination would have no immediate impact on its business and customers.
"Sirius' continued brand and category dominance makes it well positioned to take advantage of the growing demand for the service," said Mark Redmond, president and CEO of Sirius Canada. "We anticipate that Sirius' strong growth and leadership in automotive and at retail continues."
Michael Moskowitz, president and CEO of XM Canada, said the north-of-the-border company is in a strong strategic position "to maximize any opportunities that arise for the enhanced benefit of our shareholders and customers."
Moskowitz added, "We are now evaluating how best to leverage the Federal Communications Commission'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."
Sirius Canada serves more than 750,000 paying subscribers. XM Canada has more than 400,000 customers.
