In the largest single licensing deal in U.S. radio's history, the industry has agreed to pay $1.7 billion over six years to a group that doles out royalties to songwriters. Stations will pay a set fee for music, rather than a percentage of yearly revenue, under the agreement announced Monday. The nation's roughly 12,000 commercial radio stations will also have the group's blessing to simulcast its 7.5 million copyrighted songs over the Internet.
October 19, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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