NY Post: Pandora Near $90M Settlement To End Oldies Suit
October 15, 2015 at 3:56 AM (PT)
The NEW YORK POST reports, "PANDORA is poised to fork over roughly $90 million to the major record companies as payment for use of pre-1972 recordings." PANDORA Dir./Public Affairs DAVE GRIMALDI didn't deny the report, but told ALL ACCESS, “We don’t comment on rumor or speculation."
The decision by the webcaster, if true, would be the second move of its kind to settle with rights holders, as ALL ACCESS reported in JUNE (NET NEWS 6/26) that the record industry won a huge settlement from SIRIUSXM in its suit for the satellite radio company's use of recordings created before 1972. SIRIUSXM paid $210 million to plaintiffs ABKCO MUSIC & RECORDS, CAPITOL RECORDS, SONY MUSIC ENTERTAINMENT, UNIVERSAL MUSIC GROUP and WARNER MUSIC GROUP for its use of recordings from before 1972 after settling the case of CAPITOL RECORDS LLC et al vs SIRIUSXM RADIO INC.
Regarding PANDORA, THE POST notes the company, "would pay $60 million for the use of recordings through 2015, and another $30 million to cover through 2016. The company’s board is expected to approve the deal at an OCT. 20th meeting.