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XM Settles With Warner Music Group Over Pioneer Inno; Second Settlement This Week

As expected, satellite radio operator XM (NSDQ: XMSR) has come to an agreement with Warner Music Group (NYSE: WMG) pertaining to the Pioneer Inno, a receiver capable of recording songs. XM announced a similar agreement with Universal on Monday, and it was reported that a deal with Warner would soon follow. Both WMG and UMG were part of an RIAA lawsuit brought last year claiming that the device obligated XM to pay an additional licensing fee. The agreement not only covers Inno, but other future devices with the the same capabilities. Once again, terms of the deal were not disclosed. Release.