Spotify agrees to fund to settle copyright suits

Music streaming leader Spotify has agreed to set up a $43.45 million fund to settle a potentially costly pair of US copyright lawsuits from artists, lawyers said Monday.

The move marks the latest effort by the Swedish company to turn the page on messy disputes as it considers a public listing amid the soaring growth of streaming.

The settlement would end lawsuits spearheaded by two indie songwriters who double as academics — folk rock singer Melissa Ferrick and David Lowery, frontman of alternative rock bands Cracker and Camper Van Beethoven.