Sirius XM to Pay $150 Million to Sett...

Sirius XM to Pay $150 Million to Settle Lawsuit Over Royalties

Satellite-radio giant says it will make a one-time payment to SoundExchange, a not-for-profit offshoot of the Recording Industry Association of America Sirius XM Radio Inc. has agreed to pay $150 million to SoundExchange Inc. to settle lawsuits alleging that the satellite-radio giant underpaid royalties for recordings. The Sirius XM Holdings Inc. subsidiary said it would make a one-time payment to SoundExchange, a not-for-profit offshoot of the Recording Industry Association of America, on or before July 7, according to a Monday filing with the Securities and Exchange Commission.

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