This afternoon the Radio Board of the National Association of Broadcasters released a "Term Sheet" regarding the performance rights issue. In response, musicFIRST advisor Tom Matzzie made the following statement on behalf of the coalition.

“While we are pleased that the radio broadcasters have for the first time acknowledged their obligation to pay the artists who are the foundation of their business, we are disappointed that they failed to vote on the deal both parties agreed upon in July. After a quick review, this new term sheet differs significantly from that agreement. We will be reviewing their term sheet further.”

Check back for more analysis in the coming days.