FCC Slaps Broadcasters with $12.5 million fine

From Politico.com:

After waiting for more than a month for the final settlement to be announced, the Federal Communications Commission released the final details of the payola settlement Friday morning.

According to the settlement, four of the country’s largest broadcasters are paying the government $12.5 million in fines in response to allegations that they accepted money and gifts to play certain artists, a practice known as “payola.”

This is the largest collective fine in the history of U.S. broadcasting. Officials declined to say when Clear Channel Communications, CBS Radio, Entercom Communications and Citadel Broadcasting will pay.

On top of the fines, the radio companies voluntarily agreed to launch a new program for independent artists.

Ouch.