The Radio Music License Committee has posted on itsÂ website, news that they have agreed, in principle, for a new industry wide license.
Writes the RMLC:
Broadcast Music, Inc (BMI) and The Radio Music License CommitteeÂ (RMLC) have announced an agreement in principle for a new industry-wide license, settling a multi-year litigation between the parties. The agreement covers the performance of more than 7.5 million musical works in the BMI repertoire.
If approved by the court, the agreement will end a Federal Rate Court litigation over the fees that radio stations pay BMI on behalf of the songwriters and music publishers it represents for the public performance of their works by radio stations. The proposed deal covers January 2010 through December 2016.
Details of the agreement have not been released pending review by the Court.