The merger of XM and Sirius in Canada is not a certainty even if ...
The merger of XM and Sirius in Canada is not a certainty even if the U.S. merger is approved by federal regulators, said John Bitove, CEO of Canadian Satellite Radio (CSR) Holdings. CSR is XM’s parent in Canada and…
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reported financial results for the third quarter. “If it happens, there'll probably be conversations about what to do for our Canadian consumers. If it doesn’t happen, there will be no change,” Bitove said of the U.S. merger. “There’s really no point in doing anything until we know what’s happening in the U.S.” The merger came up during a call with analysts because of CSR’s recent contract with the NHL, making it the exclusive satellite operator in Canada carrying games through 2015. Bitove said the NHL deal does give XM a big advantage over Sirius in Canada. “Having the NHL is bigger than Howard Stern to Canadians,” he said. “We now have not only more channels but the most important programming piece.” He said the NHL deal will be highlighted by XM in advertisements. “You can expect us to be very loud and proud with the NHL,” he said. Among highlights of the quarter is the XM radio is now sold in 3,300 retail locations, up 500 this year. XM has 80 percent of the market share of satellite radios installed in vehicles in Canada and hit the 269,900-subscriber mark. Revenue was C$5.7 million for the quarter, up 144 percent over the year-earlier quarter. Overall, the company lost C$9.8 million in the quarter, C$3.4 million less than in the same quarter last year.