From Salon:
On Thursday, the House Commerce Committee, chaired by Rep. Edward Markey, a Massachusetts Democrat, convened an emergency round-table meeting between both sides in the royalty dispute. At the meeting, SoundExchange agreed to cap the $500-per-channel fee that had threatened to wipe out Pandora and other stations that let people tailor radio channels to their taste. Westergren says the cap "was a precursor to any kind of negotiation, because that fee was so absurd. It was like a billion dollars for us and other large webcasters put together every year." Now, stations like Pandora will pay $500 for each radio channel they send out, with a maximum of $50,000.
More at http://machinist.salon.com/blog/2007/07/13/internet_radio/
