As you should know, July 15 was going to be “the day the music died” for Internet radio. On that date, the new outrageous fees, as well as fees retroactive to January 2006, demanded by the Copyright Royalty Board would go into effect. The high costs would have effectively silenced the thousands of established and legitimate stations who don’t have Big Company funds. According to Wired, SoundExchange, enforcer of the rates, agreed late Thursday to work with webcasters to hammer out new rates. The new rates will not go into effect on Sunday. While Wired is claiming that Internet radio is saved, I’ll have to see what the new rate scale is and how the Internet radio industry reacts to feel secure.