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June 26, 2015 | RIAA News

Sirius XM Agrees to Pay for Recordings Released before 1972

The satellite radio broadcaster has agreed to compensate record companies for use of classic recordings.

Sirius XM Holdings Inc. has agreed to a legal settlement with independent and major record companies for its use of recordings created before 1972.

The satellite radio broadcaster will pay $210 million to plaintiffs ABKCO Music & Records, Capitol Records, Sony Music Entertainment, UMG Recordings, and Warner Music Group. The settlement provides a nationwide resolution for Sirius XM’s use of the plaintiffs’ pre-1972 recordings.

“This is a great step forward for all music creators,” said Recording Industry Association of America (RIAA) Chairman & CEO Cary Sherman. “Music has tremendous value, whether it was made in 1970 or 2015. We hope others take note of this important agreement and follow Sirius XM’s example.”

The case is Capitol Records LLC et al vs Sirius XM Radio Inc.