XM, Universal Music Settle Lawsuit

XM Satellite Radio and music industry giant Universal Music Group announced Monday that they have settled the lawsuit that UMG filed against XM over the Pioneer Inno device. Financial terms were not disclosed.

As part of the settlement, the companies said, UMG has both allowed XM to use the Inno device’s recording technology, and has pulled out of the lawsuit it filed in 2006 along with the rest of the major record companies. UMG’s labels include Interscope Geffen A&M, Island Def Jam, Mercury, Polydor and Verve Music Group.

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