Sirius XM Canada will go private with CRTC approval

GATINEAU – Today, the CRTC approved satellite radio company Sirius XM Canada’s ownership change as it goes from a public traded company to one that is privately held.The CRTC decision will see Sirius XM Canada allocate nearly $29 million over the next seven years to funds that promote Canadian musical talent, such as FACTOR and Musicaction.The CRTC release says the transaction, valued at $479 million, is in the public interest because it will ensure the sustainability of the satellite radio service, while supporting the Canadian broadcasting system investments through tangible benefits.Sirius XM Canada is the sole provider of satellite radio...