Sirius, XM Canada merger closes

The Sirius/XM Canada merger announced way back in November 2010 has now officially closed. The new company will operate as SiriusXM Canada, and trade under the symbol XSR on the Toronto Stock Exchange. It will also start out with 1.8 million subscribers, making it one of the largest subscription media entertainment companies in Canada. On top of that, the combined company will also have about $200-million worth of revenues.

So what does this mean for Canadian listeners? For starters, the company will launch a new channel dedicated to aboriginal content by September, at latest. “We’re excited about the launch of this new channel,” said Mark Redmond, President and CEO of SiriusXM Canada in a press release, “which further demonstrates our commitment to the diverse cultural makeup of Canadian content.” No word yet on other, new programming — and whether the new company will give others a run for their money.