- Suddenly, Interactive Becomes Hyperactive In Philly
- A Holiday Slideshow for your Future
- Mobile Habits - how will they change radio?
- Holiday Format Flips 2010
- The Debate Rages On Over Delicate Artist Interviews
- "Movin"/Phoenix Gets Santa-fied, Post Holiday Flip Coming?
- Remote Warfare: Discussion
- Columbia, SC Broadcast Veteran Dave Rogers Passes
- "Kicks"/Atlanta's Rick Zeisig Joins Chattanooga's New "Big FM": Discussion
- Looking for a Job in Radio? Tell the Industry in a Free Listing -- CLICK HERE
Finally, Sirius Canada and XM Canada are merging
The two companies had remained competitors for more than two years after their American cousin companies merged in the Summer of 2008. The merger will create a Canadian-owned media company with 1.7 million subscribers, in a country of about 33 million people. The enterprise value of the merged Canadian Satellite Radio Holdings will be more than $520 million (Canadian), with long-term debt of about $130 million. Current shareholders of Sirius Canada will have 58% of the equity in CSR, led by Chairman John Bitove (30% voting interest, 22.7% equity interest) and CBC/Radio-Canada (20.2% voting interest, 15% equity interest). Slaight Communications gets a 20.2% voting interest and 15% equity interest. The American company Sirius XM Radio Inc. will hold a 25% voting interest and 37.1% equity interest. John Bitove will be Chairman of the new CSR, with Sirius Canada President/CEO Mark Redmond keeping the same title, and current XM Canada Chief Financial Officer Michael Washinushi as CFO. John Bitove says the deal will "enhance the long-term success of satellite radio in Canada." The combined company will have $200 million in pro forma trailing revenues and pro forma EBITDA of $7 million. Money will be saved, too: CSR predicts $20 million in savings from "synergies" over the next 18 months.
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- In Chattanooga, a non-holiday format flip at country "Duke" WOGT
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