Warner Music to Pay $5M in Payola Settlement

State Attorney General Eliot Spitzer has reached another settlement in his "payola" probe into record companies and radio stations. WNYC's Kathryn Herzog reports.

Warner Music Group Corporation has agreed to pay $5 million and to stop bribing radio stations to feature its artists. It is the second major recording company to settle with Spitzer. In July, Sony BMG Music Entertainment agreed to a $10 million settlement.

The "payola" practice often involves direct bribes to radio programmers like money, concert tickets or electronics. In exchange, that company's artists recieve more airtime. The practice is considered rampant in the industry. The money that Warner Music has agreed to pay will fund music programs throughout New York state. Spitzer is currently investigating two other music companies in his investigation. For WNYC, I'm Kathryn Herzog.