The Federal Communications Commission said Friday four broadcasters have agreed to pay $12.5 million to settle the “payola” investigation. CBS Corp., Clear Channel Communications...

The Federal Communications Commission said Friday four broadcasters have agreed to pay $12.5 million to settle the “payola” investigation.

CBS Corp., Clear Channel Communications Inc., Entercom Communications Corp. and Citadel Broadcasting agreed to pay a combined $12.5 million to settle investigations into whether they received secret payments to play certain songs, according to a Reuters report. (Read More)

Also, the companies agreed to limit gifts and concert tickets from record companies to station employees and promised to hold regular training for employees about payola, a term given to the practice of paying radio stations to play certain songs on the air. (Full Story)