NY Attorney General Elliot Spitzer's payola probe of record labels and large radio groups apparently led to radio giants Clear Channel and Cumulus canceling annual meetings at last week's Country Radio Seminar; and according to some attendees this may be just the beginning.
"Literally, one of the other shoes is about to drop," music attorney Malcolm Mimms told the the daily Nashville Tennessean referring to the fact that neither EMI nor Universal had yet settled with Spitzer. The same insider also speculated that the music industry is nervous because the FCC has also promised get involved in the issue. "At this point, they almost have to do something," he said.
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