Significant milestone reached in just over two years
TORONTO, March 20 /CNW/ - Canadian Satellite Radio Holdings Inc. ("CSR")
(TSX:XSR) announced that as of today XM Canada has achieved 400,000 satellite
radio subscribers. This milestone was attained in just over two years.
"An increasing proportion of our subscriber base is coming from our
rapidly growing automotive channel, which is a key segment for long-term
success in our industry," said Michael Moskowitz, President and Chief
Executive Officer of XM Canada. "In addition to strong growth in automotive,
we continued to gain momentum this quarter in retail sales due to our NHL
exclusivity, strategic partnerships and strong Canadian consumer appetite for
satellite radio during the holiday season. This is a pivotal year for XM
Canada and we are confident our subscriber growth will continue to accelerate,
enabling the company to achieve positive cash flow as early as the fourth
quarter of 2008."
The subscriber numbers reported today are based on unaudited results.
Please refer to Management's Discussion & Analysis that will be filed in
conjunction with the Company's financial results for the second quarter ended
February 29, 2008 for greater detail on the subscriber counts.
About Canadian Satellite Radio Holdings Inc.
Canadian Satellite Radio Holdings Inc. (TSX: XSR) operates as XM
Canada(TM) and is Canada's premium digital audio entertainment and information
company with the best signal coverage across the country.
XM Canada offers listeners the most unique Canadian and international
programming including exclusive satellite radio coverage of EVERY NHL(TM)
GAME, as well as PGA TOUR(TM) and Major League Baseball(TM), the deepest
playlist, plus news, talk, sports, entertainment and children's content.
Acura, Buick, Cadillac, Chevrolet, GMC, Harley Davidson, Honda, Hummer,
Hyundai, Infiniti, Lexus, Nissan, Pontiac, Toyota, Saab, Saturn, Suzuki and
Subaru offer XM radios in more than 150 different vehicles for model year
XM Satellite Radio Inc. is the number one satellite radio company in
North America with more than 8 million subscribers. In Canada, XM is offered
on TELUS Mobile Radio(TM) and Rogers(TM) Communications wireless, cable and
internet platforms and is also the exclusive music channel provider on Air
Canada's flights and is available in select Avis Budget Group rental vehicles.
A free three-day trial of XM Radio Online is available at
http://listen.xmradio.ca. Visit www.xmradio.ca for programming and
To find out more about Canadian Satellite Radio Holdings Inc. (TSX: XSR),
visit our website at www.cdnsatrad.com.
Certain statements included above may be forward-looking in nature. Such
statements can be identified by the use of forward-looking terminology such as
"expects," "may," "will," "should," "intend," "plan," or "anticipates" or the
negative thereof or comparable terminology, or by discussions of strategy.
Forward-looking statements include estimates, plans, expectations, opinions,
forecasts, projections, targets, guidance or other statements that are not
statements of fact. Although CSR believes that the expectations reflected in
such forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to have been correct. CSR's forward-looking
statements are expressly qualified in their entirety by this cautionary
statement. CSR makes no commitment to revise or update any forward-looking
statements in order to reflect events or circumstances after the date any such
statement is made. Additional information identifying risks and uncertainties
is contained in CSR's filings with the Canadian securities regulators,
available at www.sedar.com.
For further information:
For further information: Investors: (416) 408-6899,
firstname.lastname@example.org; Media: (416) 203-6666, email@example.com