Sirius Canada appears to be near its competitor

NEW YORK – In its quarterly report filed Tuesday, American company Sirius Satellite Radio referred to its Canadian operations in a single line, which read: "For the first quarter of 2006, the company recorded ($4.4) million for its share of SIRIUS Canada, Inc.'s net loss." That's in U.S. bucks and for the January to March 2006 time frame. Given the 20%-40%-40% ownership structure (Sirius-CBC-Standard Broadcasting) of the Canadian company, that puts Sirius Canada's Q1 '06 losses at US$22 million or so - with CBC and Standard on the hook for US$8.8 million each. While Sirius Canada is a private company...