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Thursday, February 01, 2007

Wise regulation

As this article illustrates, someone at the FCC has the wisdom of Solomon.

... Clear Channel, CBS Radio, Entercom and Citadel would make payments valued at about $10 million under a proposed settlement of the probe by the FCC into claims of payola in the music industry.

The investigation focuses on claims that stations owned by the nation’s Big Four radio companies accepted cash or gifts from music labels in exchange for playing their songs. ...

Under settlement terms proposed recently, the broadcasters would devote $7 million of airtime to independently produced music. The four group owners would additionally pay $3 million [towards] training to member stations to stop payola. In addition, the companies would draft compliance plans detailing which practices are unacceptable.

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