Amid Financial Crisis Senate Takes Time To Help Their Buddies In The Music Biz

(Billboard) The U.S. Senate passed the Webcaster Settlement Act of 2008, sending it to President Bush's desk for signature two days after the U.S. House of Representatives okayed the bill.

The bill allows for SoundExchange, on behalf of copyright owners and performers, to negotiate with Internet radio services through 2015 an alternative royalty agreement while Congress is in recess.

The negotiations are aimed at setting aside a 2007 decision by the Copyright Royalty Board that set a royalty rate that Internet radio participants said would endanger the fiscal health of webcasting. [Can't wait to see the first lawsuit after the "agreement" is reached that challenges it as Unconstitutional under Equal Protection.. Easy solution: use the same rates as radio.] - more on this story

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