TORONTO - Canadian Satellite Radio and General Motors of Canada Limited announced yesterday the signing of a memorandum of understanding (MOU) to enter into a 13-year distribution agreement.
Under the MOU, should CSR be granted a licence by the CRTC (the hearing begins Monday), GM of Canada will factory-install CSR receivers in more than 50 vehicle models beginning in the 2006 model year.
CSR is a partnership with businessman John Bitove and XM Satellite Radio, which already has a deal with GM in the States and is already installing receivers in many models of cars (some of which are sold here, and can come complete with the receivers).
"We have already begun receiving inquiries from our customers asking when satellite radio will be available in Canada," said Michael Grimaldi, president of General Motors of Canada. "Based on the strong market response to XM Satellite Radio (XM) in the United States, GMCL looks forward to the Canadian partnership with CSR."
"We welcome GM of Canada's commitment to bringing the latest technology to their Canadian customers. The XM partnership provides a unique opportunity to highlight and promote Canadian artists to a broad range of audiences in both Canada and the United States," said CSR CEO Bitove.
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