Apple Threatens to Close iTunes Store
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Devin Leonard, senior writer @ CNN Money says for five years, Apple’s iTunes Music Store has been the Internet’s most successful music store. But as music publishers have sought a higher share of its proceeds, Apple has threatened to shutter iTunes.
The Copyright Royalty Board in Washington, D.C. is expected to rule Thursday on a request by the National Music Publishers’ Association to increase royalty rates paid to its members on songs purchased from online music stores like iTunes. The publishers association wants rates raised from 9 cents to 15 cents a track - a 66% hike.
Understandably, Apple is opposed to the rate increase and, in a statement submitted to the...
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