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Liberty Media attempts 11th-hour partial acquisition of iHeartMedia

Liberty Media, majority owner of Sirius XM and minority owner of Pandora, has offered a term sheet that would grant it ownership of a 40% stake in iHeartMedia for $1.159 billion. This move is an eleventh-hour deal in reaction to iHeartMedia’s difficult financial situation. It also isn’t the first time Liberty has broached a last-minute audio investment. Continue Reading

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David Oxenford: Copyright Royalty Board News – Sirius XM and Cable Radio Rates, Webcasting Rate Appeal to Be Argued in February

by David Oxenford

The Copyright Royalty Board recently made its ruling for royalty rates to be paid by Sirius XM in 2018-2022. David Oxenford lays out the known details of the determination along with some important notes about the appeal for the webcasting rates set for 2016. Continue Reading

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Florida rules in favor of Sirius XM over pre-1972 royalties

Sirius XM secured a court win in Florida over royalties for music recorded prior to 1972. The satellite radio company was sued by Flo & Eddie, representing two members of The Turtles, in Florida, New York, and California over whether it has to pay royalties when it plays songs that were recorded before the adoption of federal copyright law. Continue Reading

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Pandora, Sirius XM close investment. Sirius execs join board.

Pandora and Sirius XM have closed the strategic investment announced in June. Sirius XM has purchased 307-million Series A shares of P stock for a $480-million investment in the internet radio firm. At the same time, Sirius execs James E. Meyer (CEO), David J. Frear (CFO) and Gregory B. Maffei (Chairman) joined the Pandora board. Maffei is now chairman of both companies. Continue Reading