Via Kings of A&R and Billboard.
SoundExchange has reached a deal with commerical webcasters, including Pandora, Yahoo Radio and AOL. They will not have to pay the proposed fees and will not have to implement technology that prevents the streamed music from being ripped.
The deal was reached late today in New York during a meeting at which representatives from all the major labels and the large digital services were present, according to the source.
No final agreement has been reached yet with small webcasters. SoundExchange sent a letter to them this week offering to carry forward old rates through 2010, which is the last year for which rates were set by the CRB under copyright regulations.
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