[SatBroadcasting(tm)] Canadian Satellite Radio Holdings Inc. (CSR), the parent company of Canadian Satellite Radio Inc. (XM Canada) (TSX: XSR), ihas announced that CSR's shareholders have overwhelmingly approved the merger of XM Canada and Sirius Canada at CSR's annual and special meeting of shareholders that was held in Toronto.

It is expected that a combined XM Canada and Sirius Canada will yield synergies of approximately $20 million (on an annualized basis) within 18 months of closing by allowing the combined company to better manage costs through improved efficiencies and greater economies of scale. With an expected total subscriber base of more than 1.8 million, the combined company will benefit from a highly experienced management team with extensive industry knowledge in media and broadcasting operations, consumer electronics, customer care and subscriber management, automotive engineering and information technology. The combined company will create a stronger platform for future innovation within the audio entertainment industry through key content and programming relationships and distribution agreements with every major automaker and retailer nationwide. Automakers are responding to customer demand for in-vehicle entertainment and the combined entity will lead to 50 per cent of vehicles sold in Canada having factory installed satellite radios as an option. This further demonstrates how important satellite radio is becoming to Canadians. The consummation of the merger remains subject to the satisfaction of, or compliance with, certain conditions, including receiving all necessary regulatory approvals (including CRTC approval) and the successful refinancing of the Company's indebtedness. The transaction is currently expected to close during the third quarter of the Company's 2011 fiscal year.