Regulators approve payola settlement

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WASHINGTON -- Federal regulators approved a $12.5 million in consent decrees Friday that settles payola allegations against four of the nation's largest radio broadcasters.

While the deal closes the FCC's investigation in the pay-for-play practices of Clear Channel Communications Inc., CBS Radio, Entercom Communications Corp. and Citadel Broadcasting Corp., the companies admit to no wrongdoing. In addition to the $12.5 million payment, the broadcasters agreed to implement business reforms and compliance measures to prevent a recurrence.
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