Sirius XM Canada Receives CRTC Approval For Recapitalization Go-Private Transaction

CRTC Approves

SIRIUS XM CANADA has gotten a thumbs up from the CANADIAN RADIO-TELEVISION AND TELECOMMUNICATIONS COMMISSION, which approved the transactions under the previously announced statutory plan of arrangement. In connection with the transactions, among other things, all of the shares of the Company will be acquired by 2517835 ONTARIO INC., a corporation that on closing will be owned by three current major shareholders of the Company: SLAIGHT COMMUNICATIONS INC., OBELYSK MEDIA INC. and SIRIUS XM RADIO INC. 

The parties have extended the outside date by which the Arrangement must be completed to MAY 31st, 2017.

"The CRTC decision marks the final milestone in the approval process and we believe that this transaction will better position the Company to deliver enhanced and expanded services to our valued subscriber base" said SIRIUS XM CANADA Pres./CEO MARK REDMOND.

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