The FCC is probing iHeartMedia over alleged payola violations, questioning if artists are pressured to perform for free for airplay.

Texas-based iHeartMedia says it settled its legal dispute with Drake over Kendrick Lamar’s diss track “Not Like Us” after demonstrating that it “did nothing wrong.”

Guggenheim analyst Curry Baker lowered the firm’s price target on iHeartMedia (IHRT) to $4.50 from $5 and keeps a Buy rating on the shares

Analyst reiterated Underweight rating on iHeartMedia Inc, citing weaker-than-expected results, ongoing pressures in radio & ad market.

Drake has alleged UMG engaged in “irregular and inappropriate business practices” to get radio airplay for “Not Like Us.”

Music star Drake and iHeartMedia have reached a settlement after Drake accused the media giant of accepting payola to boost the popularity of Kendrick Lamar’s “Not Like Us” in a pre-action filing. On Monday (March 3),

* Drake ’s beef with iHeart Media is settled. The Associated Press, via Yahoo News, cited court documents which recently broke news of a settlement reached in the Canadian entertainer’s legal dispute with iHeart, who said it “did nothing wrong.”

Drake has reached a private deal with iHeartMedia while he probes allegations UMG engaged in a pay-to-play scheme with Kendrick Lamar's ‘Not Like Us’

Toronto rapper Drake has officially withdrawn his petition against iHeartMedia after reaching a settlement with the media company. The move comes after iHeartMedia provided documents showing they had no involvement in an alleged pay-to-play scheme linked to Kendrick Lamar’s song Not Like Us.

Drake’s legal battles over the success of Kendrick Lamar’s acclaimed “Not Like Us” continues as he settles one dispute. According to the Associated Press, the 38-year-old and iHeartMedia have reached a settlement regarding a legal petition filed in November where the Canadian musician claimed the company boosted the diss record on the radio by taking illegal payments from Universal Media Group (UMG).

Drake & iHeartMedia have reached a settlement in Drake's dispute about Kendrick Lamar's "Not Like Us" being boosted on radio airplay. Keep watching for the full story. What do you think of Drake's lawsuit?

"If we can make more money adding video to it we will," says CEO Bob Pittman, adding: "It's not terribly expensive, it's just 'what do you want to focus on'?"