XMSR and ASCAP Reach Music Licensing Agreement
July 24, 2006
XM and ASCAP Announce New Long-Term Music Licensing Agreement
(PR Newswire 07/24 13:15:59)
NASHVILLE, Tenn. and WASHINGTON, July 24 /PRNewswire-FirstCall/ --
XMSatellite Radio (Nasdaq: XMSR) and the American Society of Composers, Authors& Publishers (ASCAP), today announced that they have entered into a new five-year music licensing agreement. The agreement provides for XM Satellite Radio to pay licensing fees(royalties) to ASCAP for the public performance of copyrighted musicalcompositions in the Society's repertory of over seven million works. "XM's commitment and support of the music industry have helped providemillions of music fans an exciting new way to enjoy the music created byASCAP's 250,000 songwriter, composer and publisher members," said VincentCandilora, Senior Vice President and Director of Licensing of ASCAP. "Andthere's no question that the talent of ASCAP's members has had a strong impacton XM's subscription growth. We sincerely appreciate their recognition of thecontributions made by our members." "XM is pleased to renew our agreement, which compensates ASCAP's composersand lyricists for their important contributions," said Eric Logan, ExecutiveVice President of Programming at XM Satellite Radio. "We look forward tocontinuing our productive and mutually beneficial relationship with ASCAP andits members." About the American Society of Composers, Authors & Publishers (ASCAP) Established in 1914, ASCAP is the world's largest performing rightsorganization with over 130,000 composer, lyricist and music publisher members.ASCAP's repertory spans the entire spectrum of music -- from pop to symphonic,rock to gospel, Latin to country, to jazz, rhythm and blues, theater, film andtelevision music. ASCAP's Board of Directors is made up solely of writers andpublishers elected by the membership.
7/24/2006 02:16:00 PM
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