Internet Radio Webcaster Royalty Bill Awaits Bush Signature

Internet radio broadcasters have won a survival victory. According to The New York Times: "Internet radio services are breathing a sigh of relief after the Senate approved a bill on Tuesday that would allow them to renegotiate a royalty rate that Web broadcasters say is too high."

The law now goes to President Bush for his signature. The law gived webcasters legal breathing room to continue to negotiate with SoundExchange, the trade group which collects and disseminates royalties on behalf of artists and song copyright owners.

Many prominent webcasters contend the current proposed rates are so prohibitive they would force most Internet radio broadcasters to shut down.

Background: Independent Internet Radio Faces Extinction from Proposed Royalty Rates

More: Pandora Founder: New Webcasting Royalty Rates "Would Bankrupt Us"