23 Jul '15, 9pm
“RMLC Voluntarily Withdraws its Antitrust Lawsuit Against SESAC… “
RMLC Voluntarily Withdraws its Antitrust Lawsuit Against SESAC; Settlement Assures Fair Market Value For Music Creators No Damages Paid; Settlement Prohibits Future Anti-Trust Claims SESAC, Inc. , today announced that the Radio Music License Committee (RMLC) has voluntarily dismissed the last antitrust lawsuit remaining against SESAC, which was initiated by the RMLC in October 2013. The monetary component of the settlement includes no damages and an agreement by SESAC to only reimburse the RMLC’s legal expenses in the amount of approximately $3.5 million. The amount of reimbursed legal expenses is less than the cost SESAC would incur were it to litigate the case to conclusion. This settlement marks another important step in SESAC’s ongoing effort to assure that music creators receive fair market value for their compositions. John Josephson , Chairman and CEO, SESAC, Inc., ...