Business and product update - Canadian Satellite Radio announces positive early results of its launch
December, 09 2005
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
TORONTO, Dec. 9 /CNW/ - Canadian Satellite Radio Holdings Inc. (CSR), the
operator of XM Canada satellite radio, has leveraged its position to attract
subscribers and build its business.
"We are thrilled with the early results of our launch and rollout of
XM Canada. We were the first satellite radio service to launch and sell
subscriptions and radios in Canada and we were the first broadcaster to offer
Canadian programming for all of North America," said Stephen Tapp, XM Canada's
President and Chief Operating Officer.
XM Canada's build-out of its terrestrial repeater network is nearly
complete. Repeaters are installed and operating across the country, in major
urban centres, bringing the best in satellite radio to Canadians from coast to
coast.
"You can drive from Newfoundland to B.C., and up to the Yukon, and you'll
get XM Canada in crystal-clear, digital-quality sound," said Tapp.
XM Canada has an exclusive contract with General Motors of Canada, the
leading automotive company in Canada, to factory install XM satellite radios
in more than 50 of its 2006 models. XM Canada is also negotiating with four
other major auto manufacturers. These auto companies (including General Motors
of Canada) sell almost one million vehicles a year in Canada.
Positive sales
XM Canada's diverse retail network - which includes leading names such as
Best Buy, Future Shop, The Source, Wal-Mart, London Drugs and Canadian Tire -
is selling award-winning XM radios at more than 1,000 outlets across the
country. Retailers are re-ordering now.
"By Christmas, more than 100,000 XM satellite radios will have been
shipped to retail stores in Canada, exceeding management expectations," noted
Tapp.
XM Canada offers the most commercial-free music, superb Canadian content,
and leading news, talk, sports and entertainment programming for the lowest
monthly subscription fee in Canada. XM also offers the most NHL game coverage
in satellite radio and after next season, XM will become the exclusive
satellite radio broadcaster of the NHL.
About Canadian Satellite Radio Holdings Inc.
Canadian Satellite Radio Holdings Inc. operates as XM Canada(TM) through
its subsidiary, Canadian Satellite Radio Inc. CSR creates unique Canadian
content to be broadcast in Canada and the United States and has an exclusive
Canadian licence from U.S.-based XM Satellite Radio Inc. (XM), the leading
satellite radio provider in the U.S. with more than five million subscribers.
In 2007, XM becomes the exclusive satellite radio broadcaster of the NHL,
offering more than 1,000 games a year and a dedicated hockey talk channel
called Home Ice. As a partner, General Motors of Canada factory-installs
XM radios in more than 50 of its 2006 models.
Forward-looking statements
Any forward-looking statements in this document are based on current
expectations that are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially from projections
suggested in any forward-looking statements due to a number of risks including
those associated with the business of CSR, the proposed offering of securities
by CSR, regulatory matters, and CSR's relationship with XM. CSR assumes no
obligation to update the forward-looking statements, or to update the reasons
why actual results could differ from those reflected in the forward-looking
statements. Readers are cautioned not to place undue reliance on
forward-looking statements.
The financial information contained in this news release is unaudited,
unless otherwise noted. Additional information identifying risks and
uncertainties are contained in CSR's filing
s with the Canadian securities
regulators, available at www.sedar.com.
For more information about CSR, visit www.cdnsatrad.com. For more
information about XM Canada's satellite radio service, visit www.xmradio.ca
%SEDAR: 00022901E
For further information: Richard Rotman, Wilcox Group - Toronto,
(416) 203-6666, ext. 2219, [email protected]; Ian Noble,
Wilcox Group - Vancouver, (604) 488-1100, ext. 286,
[email protected]