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Update: iTunes to Stay Open

Posted By on October 3, 2008

    As we reported yesterday, iTunes was threatening to shut down with a court hearing coming up that would raise the royalty rate, causing iTunes to raise prices, something they have always said they would never do. Well, the Copyright Royalty Board  ruled against raising the fee, so iTunes will stay open!

    The proposed raise was from 9 cents per song to 15. An iTunes spokesman said that raise would cause iTunes to operate in a negative financial state and they weren't going to ever do that.