Issue #34 -

Sirius CEO Buys Shares

Telesat Reports Third Quarter Results

Financial          

Sirius CEO Buys Shares 

Joseph Clayton, CEO of Sirius Satellite Radio, recently bought 40,000 common shares of the satellite radio broadcaster as it undergoes a recapitalization. The shares were purchased on Oct. 21 for 83 cents to 86 cents each, giving him direct ownership of 50,000 shares, according to the filing with the Securities and Exchange Commission.

Forbes

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Telesat Reports Third Quarter Results

Telesat Canada, the wholly-owned subsidiary of BCE Inc., released financial results today or the nine months ending September 30, 2002. The company posted a 3% revenue increase for the first nine months compared with the same period in 2001. Net earnings for the period were $38.5 million.

In the third quarter, consolidated operating revenue decreased $2.5 million to $77.4 million compared to the same quarter in 2001. For the first nine months of 2002, consolidated operating revenue increased $7.5 million to $232.4 million compared with the same period last year.

Earnings from operations were $20.1 million for the third quarter, $3.6 million lower than the comparable period in 2001 due to the lower revenue and higher operations and administration expenses. For the first nine months of 2002, earnings from operations were $65.4 million, which is $8.5 million higher than the same period in 2001 due mainly to higher revenue and lower operating expenses.

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