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Canadian Satellite Radio Holdings reduces Q2 loss

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TORONTO (CP) _ Canadian Satellite Radio Holdings Inc. (TSX:XSR), the operator of satellite radio provider XM Canada, has reduced its second quarter losses to $27.1 million on improved revenue as its subscriber base expands, the company reported Monday.

Losses for the quarter ended Feb 28 were equal to 57 cents per share, compared to a loss of $44 million, or $1.05 per share, in the same period last year.

The company posted a subscriber count of 237,500, but did not provide comparable year-ago figures.

XM Canada is on track to reach one million subscribers by 2010, said chairman and CEO John Bitove.

``We are pleased with our performance this quarter and are confirming our position as Canada's premium digital audio entertainment and information company,'' he added.

XM Canada recently signed a contract with Rogers Communications (TSX:RCI.A) to provide its programming on the company's wireless, cable and Internet platforms.

Company shares fell five cents to $6.45 on the Toronto Stock Exchange.

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Canadian Satellite Radio Holdings reduces Q2 loss
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