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XM dominant in auto sector, CSR says

Briefs | 02/14/2007 5:00 am EST

Canadian Satellite Radio Holdings Inc. (CSR) released its financial results last month. The operator of XM Canada confirmed it has achieved 147,000 subscribers and furthered its place in the automotive market. "Our dominant position in the automotive market was bolstered with our exclusive multi-year agreement with Hyundai, who joined GM Canada, Honda, Toyota, Nissan, Suzuki, Harley Davidson and Subaru as XM automotive distribution partners," said John Bitove, chairman and CEO of CSR. "XM Canada now controls an 80% share of the factory-installed satellite radios in 2007." CSR also reported a revenue of $3.8 million for the three months ending November 30, 2006, up 12% over the previous three months.

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