10-04-2008 07:28 AM
11-13-2008 10:13 AM
Believe it or not, there was a resolution to this issue roughly 24 hours after this story was first mentioned by a good number of news outlets. I'm still rather surprised though that the follow-up story wasn't given nearly as much attention as the initial "knee-jerk reaction" made by the press.
Based on information that I've found, it looks as though the federal Copyright Royalty Board froze the royalty fee due to songwriters at 9.1 cents per song for the next five years. Neither party involved (Apple or the Recording Industry Association of America) appears to have been overly pleased with the decision, but spokespeople from both sides seem to have admitted that the ruling should prove to be beneficial. A good compromise means that no one involved gets everything that they want, I guess.
If you'd like to read more on this story, you should be able to find the official Associated Press article by searching for "Copyright board leaves royalty rate unchanged."
Hope this helps you out!
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