Following up on a story from earlier in the week, Apple will keep its iTuens Store doors open and avoid a potentially drawn out conflict over music royalties. According to a statement released by the Copyright Royalty Board on Thursday, the group has announced that it will preserve the same royalty rate for CDs and downloadable songs.

Per AppleInsider, a three-person panel of judges determining the changes for the Board said that the royalty rate would still pay the same 9.1 cents per song, rejecting calls by the National Music Publishers Association and associated artists to pay as much as 15 cents per song.

The decision brings a quick end to an argument between store operators and musicians where both camps had said their opponent's requests would be unsustainable. While artists have long called for better income for content sold, Apple in a statement warned it might need to close iTunes if the royalty increase took effect and labels were unwilling to soak up some of the costs.

Apple, which operates its iTunes Store on minimal profits, had stated that it would take losses on each sale if it didn't raise prices.

In a surprise move, however, the Copyright Royalty Board has also set a royalty rate per ringtone of 24 cents, effectively setting a government-determined rate for the first time. Ringtone fees in the US have until now been set through individual negotiations, which often leads to significantly varying prices and a limited selection as certain artists or labels may refuse ringtones due to fundamental disagreements over prices.

Stay tuned for additional information as it becomes available and please let us know what you think of the issue in the comments or forums.