New Royalty Rates Would End Internet Radio

If you like Last.fm, Pandora, Finetune, or any of the other streaming music services, you may soon be out of luck, as newly announced royalty rates would likely put them out of business. Interestingly, this could end up indirectly hurting the merger bid of satellite radio providers Sirius and XM, who argued the merger wouldn't create a monopoly in part because they were competing against internet radio as well as traditional radio.

Rather than regurgitate, I direct you to the following sources:

Consumer Affairs has an article, as does the LA Times. The latter points out in passing that this will put a huge damper on the diversity of music available to listen to online (obviously).

The Radio and Internet Newsletter has details in this post among others.
A legal perspective.
Save Internet Radio
Musick in the Head blog (more informative links)