If you haven't heard about this before. Here's a very short Wikipedia entry on the issue. Basically, what that says is that if the CRB (Copyright's Royality Board)'s modifications will be gone through, a huge lot of internet radio webcasting will go bankrupt or stop broadcasting free of charge (which eventually would lead to bankruptcy because no one would buy such services).
The Internet Radio Equality Act, is a bill that was proposed to the US House of Representatives to reverse the CRB's adjustments on the 26th of April. If this bill is denied and not enough senators or representatives support the law before JULY 15TH, these new rates will be enforced upon all internet radio web casting companies' service's since January 1st, 2007. This in it's turn will cause a lot of internet radio services to become bankrupt, or discontinue their services.
This decision will effect people internationally, but sadly, only US citizens can do anything about it. These citizens will have to contact their representatives and senators and ask them to consider supporting the internet radio equality act. A lot of internet campaigning has been made asking people to make that effort.
The 26th of June, Day of Silence, where all webcasting stations that are part of this media event, will silence their usual broadcasts and replace them by explanations, broadcaster testimonials and calls to action to stop the upcoming danger to internet radio, for if the bill is denied, the price of that after July 15th could be silence itself.
Other services such as the Music Genome Project, a great service offered by Pandora.com, have already been affected. Pandora no longer offers it's services -free or paid- to anyone outside the United States and started using an IP filter to restrict non-US-residents to access their services.
The internet, has always been about internationality and diversity, and I think that individual countries laws should not apply on it. Instead, an internationally recognized board, preferably orchestrated by the United Nations, should take over of what rules regulate the internet globally. That would cease all country-oriented services such as Pandora, PayPal, Fox Network Internet Streams to be indulged by the international audience.
There are about 23 days left on the clock and it really is sad to see all of this happen and not be able to do anything about it. A few links if you're short on reading material.