Obama Poised To Sign New Webcaster Settlement Act
June 18, 2009 at 12:02 PM (PT)
President BARACK OBAMA now has the Webcaster Settlement Act of 2009 on his desk, after it was unanimously passed in the Senate YESTERDAY (6/17). The act, if signed by OBAMA will suspend implementation of the royalty rates set by the COPYRIGHT ROYALTY BOARD further while webcasters continue to negotiate with rights holders. The bill was sponsored by Sen. RON WYDEN (D-OR) and Sen. SAM BROWNBACK (R-KS).
According to the RADIO AND INTERNET NEWSLETTER, the legislation would grant SOUNDEXCHANGE and webcasters an additional 30 days from the date it becomes law to agree upon new a royalty rate.
More details to come.