XM Canada gains subscribers, still loses money

TORONTO – Canadian Satellite Radio Holdings Inc.’s subscriber base increased 66% to a total of 395,400 subscribers at the end of the second quarter ended February 29, according to financial results released Wednesday. The company still recorded a $17.8 million loss for the quarter, down from $27 million in the same period a year earlier. Much of the gain though was due to currency fluctuations. “Subscriber growth, which is the true barometer of the health of our business, continues to increase significantly as we benefit from our many competitive advantages, including our agreements with 60% of the Canadian automotive market,...