Internet radio stations got a second chance to hammer out a royalty agreement with copyright holders Tuesday when President Obama signed the Webcasters Settlement Act.
The bill gives both sides 30 days to come to an agreement over how much Web radio stations should pay to stream their music. A similar bill signed by President Bush last year set a deadline of Feb. 15, 2009 but a deal was not reached.
The debate dates back to March 2007 when the Copyright Royalty Board (CRB) - a government body within the Library of Congress - handed down royalty rate fees that Internet radio claimed would put them out of business. The two sides battled back and forth for ages, finally agreeing to the Webcasters Settlement Act, which vacates the CRB's decision if the two sides agree on a deal.
The bill gives both sides 30 days to come to an agreement over how much Web radio stations should pay to stream their music. A similar bill signed by President Bush last year set a deadline of Feb. 15, 2009 but a deal was not reached.
The debate dates back to March 2007 when the Copyright Royalty Board (CRB) - a government body within the Library of Congress - handed down royalty rate fees that Internet radio claimed would put them out of business. The two sides battled back and forth for ages, finally agreeing to the Webcasters Settlement Act, which vacates the CRB's decision if the two sides agree on a deal.
