NEW YORK – XM Satellite Radio Holdings Inc and EMI Music said on Tuesday they have resolved a lawsuit brought by EMI against XM over its Pioneer Inno, a portable satellite radio with advanced recording features.
The companies did not disclose terms of the agreement.
Privately held EMI Music, the world's fourth largest recorded music company, has withdrawn as a party to the complaint filed by major record companies against XM in May 2006.
In December 2007 major record companies Universal Music Group, owned by Vivendi , and Warner Music Group Corp and in February 2008 Sony BMG Music Entertainment reached similar agreements with XM. Sony BMG is a joint venture of Sony Corp and Bertelsmann AG .