SOCAN has reached an agreement with satellite radio service XM Canada on its copyright royalty payments, including payment of all arrears owing under the retroactive tariff and ongoing monthly payments under the existing tariff.

"XM is pleased to have reached this agreement regarding our royalty obligations," said Michael Moskowitz, President and Chief Executive Officer of XM Canada. "We recognize the important role these organizations play in supporting Canadian artists and this agreement allows us to balance the retroactive amount owed with the ongoing investment required to continue building on our own success."

The settlement with the SOCAN, the Neighbouring Rights Collective of Canada (NRCC) and CSI, a joint venture of the Canadian Musical Reproduction Rights Agency Ltd. (CMRRA) and Montreal-based Society for Reproduction Rights of Authors, Composers and Publishers in Canada (SODRAC) resolves the existing litigation between the parties.