Universal Music Wins $20M Global Eagle Entertainment Settlement
Universal Music has settled its long running lawsuit against Global Eagle Entertainment for $20 million. In addition to the settlement, Global Eagle will issue 1,360,544 shares of its common stock to Universal.
First filed in May 2014, Universal claimed that Global Eagle used 4,000 songs including by Taylor Swift and The Beatles without proper licenses or payments as part of its onboard entertainment package on American Airlines flights.
The settlement was announced in a filing with the US Securities and Exchange Commission.