The labels and XM have been fighting it out over XM + MP3 players for a while now, but it looks like Universal Music Group is finally backing down, signing a multi-year settlement agreement covering recording-capable XM radios like Pioneer's Inno. Terms of the agreement weren't released, but everyone sounds happy, with XM CEO Nate Davis calling the settlement "a win for everyone involved, especially for consumers." Of course, that means XM is now in a suit with just most of the RIAA instead of all of it, but the outlook's not all bad: Reuters is reporting that Warner and XM are close to settlement as well. No word on when that might go down, but Reuters says it'll be "soon." Now if only the other labels would get it together, no?

Read - XM and Universal settlement press release
Read - Reuters blurb about XM and Warner settling

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