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Representative Watt Confirmed To Head Agency

10-12-13

The North Carolina Democrat was the architect of the Free Market Royalty Act, which would have created a "performance right" obligating radio stations to pay performers for the use of their music. By a vote of 57-41 Tuesday, senators confirmed Watt to lead the Federal Housing Finance Agency. When introducing his bill, Watt said, "Airtime on AM/FM radio is no different from exposure on other mediums. Cable, satellite, and Internet radio also promote artists to new audiences, yet all these services pay performance royalties because clearly the value in these relationships runs both ways." What happens to the bill with Watt gone remains to be seen. There is a co-sponsor to the bill, Democrat Judy Chu from California.



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