Thursday, October 2, 2008

Apple threatens to shut down iTunes

Apple is threatening to close iTunes if a measure is passed by the Copyright Royalty Board to increase "royalties paid to publishers and songwriters by six cents per song," from 9 cents per song, to 15 cents, Wired Magazine reports. Shockingly, Apple iTunes Vice President Eddy Cue said, "Apple has repeatedly made it clear that it is in this business to make money, and most likely would not continue to operate [the iTunes music store] if it were no longer possible to do so profitably." In other words, royalties, shmoyalties; we want to make money and we want to make money right now.

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