SiriusXM Shares Sink On Royalty Rate Rise


Shares of Sirius XM Holdings sank by more than 6% in midday trading on Friday, after the Copyright Royalty Board revealed new rates for satellite-delivered services — including SiriusXM.

The rates, which cover the period of 2018-2022, are significantly higher than what they are today.

At the same time, Music Choice and Muzak are also getting a new royalty rate, and they should be pleased.

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