Xm Satellite Radio And Warner Music Group Reach Multi-Year Agreement On Pioneer Inno And Future Devices
NEW YORK, NY – Dec. 21, 2007 – XM Satellite Radio and Warner Music Group today announced that they have resolved the lawsuit brought by Warner Music Group against XM over its Pioneer Inno, a portable satellite radio with advanced recording features. The companies did not disclose terms of the deal.
Warner Music Group is the second music company to resolve its dispute with XM regarding radios with advanced recording functionality. A similar agreement between XM and Universal Music Group was announced on December 17. Both agreements are multi-year deals that cover current XM radios and future devices. Warner Music Group has withdrawn as a party to the complaint filed by the major record companies against XM in May 2006.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 Warner Music Group
Warner Music Group became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra, Lava, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide.
XM Satellite Radio
Warner Music Group