- XM Satellite Radio AND SONY BMG MUSIC ENTERTAINMENT Reach Agreement
- Jan 31, 2008
Agreement Marks XM’s Third With a Major Music Company to Resolve Dispute Over XM Devices With Advanced Recording Features
NEW YORK, NY – February 1, 2008 –XM Satellite Radio and SONY BMG MUSIC ENTERTAINMENT today announced that they have resolved the lawsuit brought by SONY BMG against XM over its Pioneer Inno, a portable satellite radio with advanced recording features. The companies did not disclose terms of the deal.
SONY BMG is the third music company to resolve its dispute with XM regarding radios with advanced recording functionality. Similar agreements were announced in December 2007 between XM and both Universal Music Group and Warner Music Group. SONY BMG has withdrawn as a party to the complaint filed by the major record companies against XM in May 2006.
XM (NASDAQ: XMSR) is America’s number one satellite radio company with more than 8.5 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, Chicago, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XM’s 2007 lineup includes more than 170 digital channels of choice from coast to coast: commercial-free music, premier sports, news, talk radio, comedy, children’s and entertainment programming; and the most advanced traffic and weather information.
XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Hyundai, Nissan, Porsche, Subaru, Suzuki and Toyota is available in 140 different vehicle models for 2007. XM’s industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/
About SONY BMG MUSIC ENTERTAINMENT
SONY BMG MUSIC ENTERTAINMENT is a global recorded music joint venture with a roster of current artists that includes a broad array of both local artists and international superstars, as well as a vast catalog that comprises some of the most important recordings in history. SONY BMG MUSIC ENTERTAINMENT is 50% owned by Bertelsmann A.G. and 50% owned by Sony Corporation of America.
XM Satellite Radio
SONY BMG MUSIC ENTERTAINMENT