Earlier the U.S. Court of Appeals declined to postpone the Internet Radio royalty hike that is supposed to go in effect on Sunday. But in a stunning turn of events, the group behind the rate hike, SoundExchange, promised in front of Congree that they would not enforce the new royalty rates and instead will go back to the table with Pandora and the like!

So Internet Radio is saved – for now at least. Why the sudden change of heart? Well it likely had to do with both the huge public backlash against this decision since it was announced, but also the fact that almost all Internet radio companies were simply going to close up shop rather than even attempt to pay the ridiculous fees to keep operating – so SoundExchange wouldn’t likely have been seeing very much money anyway.

Lets hope these two work out some agreement so that Internet radio can stay online for good.