>>> Major radio broadcast groups settle FCC payola probe for $12.5 million and promises to indie labels including a new Radio Rules Of Engagement. A Hypebot commentary doubts that any of this will really matter to indie music.
>>> The financial markets got reports from Universal Music (earnings up 9.3%) and distributor Handleman (profits down). Warner Music Group declared a dividend despite sagging a stock price.
>>> SAVE INTERNET RADIO ! Internet radio is fighting new royalty rates that could put many net broadcasters out of business and is asking the public for support.
>>> EMI rejected a $4.1 billion cash bid from WMG. WMG to do due diligence before offering again.
>>> European indie label trade group IMPALA rejected member requests for details of its controversial plan to support WMG’s bid for EMI.
>>> Universal is experimenting with mp3’s in France.
>>> Caroline grabs Simply Red and label UK Rough Trade for US distribution.
>>> EMI Publishing ups Robert Faxon to CEO.
