Copyright Board Hikes Up Sirius XM Royalty Rates

Law360, New York (December 17, 2012, 7:26 PM EST) -- The Copyright Royalty Board has raised the sound-recording royalty rates Sirius XM Radio Inc. will have to pay in coming years, the company said Monday in a regulatory filing.

The CRB, a division of the U.S. Library of Congress, ruled Friday that over the next five years, Sirius XM would have to pay higher royalties to SoundExchange Inc., a nonprofit that collects music royalties, under a statutory license that covers use of sound recordings over the satellite radio service, according to a U.S. Securities and Exchange...
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