Shareholders have given their permission for the parent of XM Canada to merge with Sirius Canada, combining the country’s only two subscriber radio services.
The merger of Sirius Canada and Canadian Satellite Radio Holdings Inc., is currently expected to close during CSR’s fiscal third quarter, which ends May 31.
Sirius Canada, a private company that is 40% owned by CBC Radio, 40% by Slaight Communications and 20% by Sirius XM in the United States, will end up with 58% ownership of CSR, the parent of XM Canada.
In the United States, Sirius and XM merged in 2008 to form Sirius XM–which held 47% of Canadian Satellite Radio Holdings prior to the merger.
