SiriusXM Canada welcomes CRTC decision for six year licence renewal
TORONTO, Nov. 16, 2012, 2012 (Canada NewsWire via COMTEX) --
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
About SiriusXM Canada
Canadian Satellite Radio Holdings Inc. (TSX: XSR) operates as SiriusXM
Canada. SiriusXM Canada is the country's leading audio entertainment
company and broadcasts more than 120 satellite radio channels featuring
premier sports, news, talk, entertainment and commercial-free music.
SiriusXM Canada offers an array of content from the most recognized
news and entertainment brands as well as from professional sports
leagues including the NHL, NFL, MLB and CFL.
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.
Certain statements included above may be forward-looking in nature. Such
statements can be identified by the use of forward-looking terminology
such as "expects," "may," "will," "should," "intend," "plan," or
"anticipates" or the negative thereof or comparable terminology, or by
discussions of strategy. Forward-looking statements include estimates,
plans, expectations, opinions, forecasts, projections, targets,
guidance or other statements that are not statements of fact, including
with respect to future operating performance and merger benefits and
costs synergies. Although SiriusXM Canada believes that the
expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
to have been correct. SiriusXM Canada's forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
SiriusXM Canada makes no commitment to revise or update any
forward-looking statements in order to reflect events or circumstances
after the date any such statement is made, except as required by
applicable law. Additional information identifying risks and
uncertainties is contained in Canadian Satellite Radio Holdings Inc.'s
filings with the Canadian securities regulators, available at www.sedar.com.
SOURCE: SiriusXM Canada
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/November2012/16/c9156.html
SOURCE: SiriusXM Canada
SOURCE: Canadian Satellite Radio Holdings Inc.
Investors Morlan Reddock, SiriusXM Canada 416-513-7418 email@example.com
Kristen Dickson, TMX Equicom 416-815-0700 ext 273 firstname.lastname@example.org Media
Jeff Roman 416-346-5157 email@example.com
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