CLEAR CHANNEL RADIO ONCE AGAIN ASKING UNSIGNED ACTS TO WAIVE ROYALTY RIGHTS?!? -- Clear Channel's L.A. Modern A/C KYSR (Star 98.7) is having a contest where the winning artist gets a song placed on their upcoming Star Lounge CD, a 'Star Lounge Concert' at the Guitar Center Studio and $10,000. Cool right? Well, we took some time to read the official rules:

BY ENTERING THE CONTEST, YOU ARE VERIFYING THAT YOU ARE THE OWNER AND PRODUCER OF THE SUBMITTED MATERIAL AND THAT NO THIRD PARTY OWNERSHIP RIGHTS EXIST TO THE SONG SUBMITTED.
YOU RETAIN ALL OWNERSHIP RIGHTS THAT YOU HAVE IN YOUR SONG IF YOU HAVE CREATED YOUR SONG YOURSELF. HOWEVER, BY SUBMITTING THE SONG, YOU HEREBY GRANT TO THE COMPANY A PERPETUAL, WORLDWIDE, NON-EXCLUSIVE, ROYALTY-FREE, SUB-LICENSABLE (THROUGH MULTIPLE TIERS) RIGHT AND LICENSE TO USE, PUBLISH, REPRODUCE, DISPLAY, PERFORM, ADAPT, MODIFY, DISTRIBUTE, HAVE DISTRIBUTED AND PROMOTE SUCH CONTENT IN ANY FORM (INCLUDING ANY TITLE OF THE VIDEO AND YOUR NAME AND LIKENESS), IN ALL MEDIA NOW KNOWN OR HEREINAFTER CREATED, ANYWHERE IN THE WORLD, FOR ANY PURPOSE.

Yikes. Just by ENTERING your song, you're no longer eligible to collect royalties from the largest radio broadcasting company in the U.S. AND you give them sub-licensable rights.