Satellite radio service Sirius XM will pay $210 million to the three major labels and ABKCO as a result of a settlement in the legal dispute over pre-1972 recordings.

The settlement was announced this morning and ends a lengthy dispute between Sirius XM and music industry parties over the interpretation of federal copyright law in the US.

“This is a great step forward for all music creators,” said Recording Industry Association of America (RIAA) chairman and CEO Cary Sherman. “Music ...