Sirius XM Radio - Canadian Counterparts

Canadian Counterparts

In Canada, Sirius Canada and XM Canada are partially owned by Sirius XM (20% and 23.3% respectively) in joint ventures with Canadian companies. After the US merger, the two Canadian ventures did not immediately agree to a similar merger, but instead remained in competition as distinct services. Complicating matters was that Sirius Canada has nearly 80% of the total satellite radio subscriber base in that country, and felt they deserved greater than a 50/50 split of the new company, whereas XM Canada felt that their deal with the NHL — a particularly lucrative prize in Canadian sports broadcasting — also warranted a significant amount of value in the new company.

On November 24, 2010, XM Radio Canada and Sirius Canada announced that they would merge their services. On April 12, 2011, the CRTC approved the companies' merger into Sirius XM Canada. John Bitove's Canadian Satellite Radio Holdings Inc., the licensee of XM Canada, gained a 30% share in the new company as its primary and controlling shareholder, while Slaight Communications and the Canadian Broadcasting Corporation, the current owners of Sirius Canada, each retained 20% ownership. Sirius XM's American parent company would hold 25%. The merger was completed on June 21, 2011.