Radio / Television News

CBC/Radio-Canada sells off Sirius XM Canada shares for $58M

OTTAWA - CBC/Radio-Canada raked in more than $58 million after divesting its financial stake in Sirius XM Canada as the satellite radio company prepares to go private.The public broadcaster said that it sold 13,056,787 class A subordinate voting shares in Sirius XM Canada Holdings Inc. to 2517835 Ontario Inc., a corporation owned by Slaight Communications Inc., Obelysk Media Inc. and Sirius XM Radio Inc. CBC/Radio-Canada said that it sold the shares for C$4.50 per share in cash for aggregate gross proceeds of $58,755,541.