The last I heard was that big negotiations were starting in February
-- and as far as I know they continue. I heard figures flying ranging
from 5.5% of total revenue to 30% of Internet-only revenue. And there
are massive DMCA restrictions which prevent, for example, tribute
shows. Internet radio has far more restrictions than
over-the-air-stuff, which I think is a shame since before this crap
started I had my own friends-only Internet radio station. (In glorious
mono!)

WWNO FM had to go through a bunch of rigamarole on this when we
started our streams a little while back. And we had to make some
changes in order to be legal. ('Twas a pain in the tuchus.) Here is a
document I found helpful:

http://www.kurthanson.com/internet-radio-handout5-1.pdf

-Farrar Hudkins