Pandora Internet Radio Can’t Take Royalty Rates, Will Likely Close the Box

Pandora, the internet radio station built around your tastes, will probably be going out of business soon. After getting slapped by the CRB with exorbitantly high royalty rates to continue playing music, founder Tim Westergren says the company is facing a “pull-the-plug” situation. There’s one congressman trying to help Pandora and it’s million plus users, but the service is bleeding money in the meantime and its future looks grim. I’ll be very sad to see it go, since being reintroduced to it recently through their excellent iPhone app. What great idea do you have for us next, RIAA? [ReadWriteWeb]