Canadian XM and Sirius Satellite RADIO
New and Used Satellite Radios – click here (According to Digital Home Canada, Canadian XM subscribers will be able to use receivers purchased in the U.S. to listen to their Canadian Satellite Radio (CSR). Digital Home Canada reports that receivers in Canada can cost up to twice as much when compared to prices in the States.)
December 6, 2005: TORONTO, Dec 6 (Reuters) – Canadian Satellite Radio Holdings Inc. said on Tuesday it had set its initial public offering at C$16 per share, valuing the company at C$800 million ($690 million).
CSR said it will use the proceeds to, among other things, complete its initial infrastructure rollout and to fund operating expenses of its XM Canada satellite radio service. The offering is scheduled to close next Monday.
CSR said it has granted underwriters an option to buy up to an additional 343,750 subordinate voting shares at the same price. It has conditional approval to list its subordinate voting shares on the Toronto Stock Exchange under the symbol XSRsv.TO.
CSR, owned by John Bitove, former co-owner of the Toronto Raptors basketball team, has partnered with Washington-based XM Satellite Radio Holdings Inc. (XMSR.O: Quote, Profile, Research) to launch the subscription-based digital radio service in Canada.
The Canadian Radio-Television and Telecommunications Commission, the federal broadcasting watchdog, approved applications in June for licenses from CSR and Sirius Canada to launch satellite radio services.
New York-based Sirius Satellite Radio Inc. (SIRI.O: Quote, Profile, Research) , the number 2 U.S. player, teamed up with closely held Standard Broadcasting Inc. and the publicly owned Canadian Broadcasting Corp. to launch Sirius Canada.
Original post by David Ledbetter