Washington
- XM Satellite Radio (NASD: XMSR) said on Tuesday that it has agreed to settle a lawsuit
brought against the company by major record label EMI Music over its portable
satellite radio with advanced recording features.
Washington - The Recording Industry Association of America (RIAA), which represents the interests of the major record labels, has filed a high-profile lawsuit against XM Satellite Radio over a new satellite device that allows users to store songs for play later. XM's stock dropped 5.7% on Wednesday.
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