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XM increases subscribers by 86% in Q1

Briefs | 12/06/2007 6:04 pm EST

Canadian Satellite Radio Holdings Inc., also known as the XM Canada satellite radio service, has announced it achieved 350,000 subscribers as of the end of its first quarter ended November 30, which represents an 86% increase over the same quarter of last year. "We are experiencing double-digit growth in our subscriber base due to a significant increase in the number of vehicles that are rolling off the automobile manufacturing line with XM satellite radios and due to the continued improvement in our retail market share with our NHL exclusivity," said John Bitove, chairman and CEO of XM Canada. Indeed, XM's subscriber numbers now include rental cars installed with the satellite radio. Excluding rental cars, XM's subscriber base was 338,000 this quarter, up from 306,300 at the end of Q4 2007.

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