CRTC denies SiriusXM request to defer Cancon obligations due to pandemic

OTTAWA – The CRTC said SiriusXM cannot defer its obligations to funds supporting Canadian content from the 2021-2022 year because it hasn’t shown a financial need to do so. The satellite and online radio service requested a deferral due to the impact of the Covid-19 pandemic. It proposed paying its shortfalls incrementally, with 50 per cent paid by August 2024 and other 50 per cent by August 2025. But the CRTC said revenues have largely rebounded since the start of the pandemic. It also said SiriusXM, which is predominantly subscription-based, “enjoyed more stability in revenue” compared to the rest of...