OTTAWA, May 31, 2017 /CNW/ - CBC/Radio-Canada announces that on May 25, 2017 it sold 13,056,787 class A subordinate voting shares (the "Class A Shares") of Sirius XM Canada Holdings Inc. (the "Company"), the parent of Sirius XM Canada Inc., pursuant to a statutory plan of arrangement (the "Arrangement") whereby, among other things, all of the shares of the Company were acquired by 2517835 Ontario Inc., a corporation owned by Slaight Communications Inc., Obelysk Media Inc. and Sirius XM Radio Inc. Pursuant to the terms of the Arrangement, CBC/Radio-Canada sold the Class A Shares at a price of C$4.50 per share in cash for aggregate gross proceeds of $58,755,541. Immediately prior to the closing of the Arrangement, CBC/Radio-Canada owned 13,056,787 Class A Shares of the Company, representing approximately 10.15% of the Company's issued and outstanding Class A Shares. After giving effect to such disposition, CBC/Radio-Canada no longer has ownership or control or direction over any securities of the Issuer.
CBC/Radio-Canada is Canada's national public broadcaster and one of its largest cultural institutions. We are Canada's trusted source of news, information and Canadian entertainment. Deeply rooted in communities all across the country, CBC/Radio-Canada offers diverse content in English, French and eight Indigenous languages. We also provide international news and information from a uniquely Canadian perspective. In 2017, CBC/Radio-Canada will at the heart of the celebrations and conversations with special 2017-themed multiplatform programming and events across Canada.
For further information: Douglas Chow, Senior Manager, Public Relations, CBC/Radio-Canada, (613) 288-6335