118 STAT. 3403 PUBLIC LAW 108–447—DEC. 8, 2004 any applicable voluntary agreement filed with the Copyright Office pursuant to subparagraph (D). In determining the fair market value, the panel shall base its decision on economic, competitive, and programming information presented by the parties, including— ‘‘(I) the competitive environment in which such programming is distributed, the cost of similar signals in similar private and compulsory license marketplaces, and any special features and condi tions of the retransmission marketplace; ‘‘(II) the economic impact of such fees on copy right owners and satellite carriers; and ‘‘(III) the impact on the continued availability of secondary transmissions to the public. ‘‘(iii) PERIOD DURING WHICH DECISION OF ARBITRA TION PANEL OR ORDER OF LIBRARIAN EFFECTIVE.—The obligation to pay the royalty fee established under a determination which— ‘‘(I) is made by a copyright arbitration royalty panel in an arbitration proceeding under this para graph and is adopted by the Librarian of Congress under section 802(f), as in effect on the day before the date of the enactment of the Copyright Royalty and Distribution Act of 2004; or ‘‘(II) is established by the Librarian under sec tion 802(f) as in effect on the day before such date of enactment shall be effective as of January 1, 2005. ‘‘(iv) PERSONS SUBJECT TO ROYALTY FEE.—The roy alty fee referred to in (iii) shall be binding on all satellite carriers, distributors and copyright owners, who are not party to a voluntary agreement filed with the Copyright Office under subparagraph (D). ‘‘(2) APPLICABILITY AND DETERMINATION OF ROYALTY FEES FOR DIGITAL SIGNALS.—The process and requirements for estab lishing the royalty fee payable under subsection (b)(1)(B) for the secondary transmission of the primary digital transmissions of network stations and superstations shall be the same as that set forth in paragraph (1) for the secondary transmission of the primary analog transmission of network stations and superstations, except that— ‘‘(A) the initial fee under paragraph (1)(A) shall be the rates set forth in section 298.3(b)(1) and (2) of title 37, Code of Federal Regulations, as in effect on the date of the enactment of the Satellite Home Viewer Extension and Reauthorization Act of 2004, reduced by 22.5 percent; ‘‘(B) the notice of initiation of arbitration proceedings required in paragraph (1)(F)(i) shall be published on or before December 31, 2005; and ‘‘(C) the royalty fees that are established for the sec ondary transmission of the primary digital transmission of network stations and superstations in accordance with to the procedures set forth in paragraph (1)(F)(iii) and are payable under subsection (b)(1)(B)— ‘‘(i) shall be reduced by 22.5 percent; and Notice. Deadline.
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