Well, after some discussion in my economics class, I have decided to postpond/cancle the release of the WZUP Radio, until I can get more information.
According to my economics professor, the owner of the radio station has to pay royalties for every song played on the radio. Until I find out all the details to this, I will halt production of the WZUP Radio, and focus on the rest of the site.
As far as I can see, the only way to get around this would be to play only local bands, and underground music that doesn't have a record label. But coming up with 24+ hours of local music is going to be tough...and some of the bands suck. So we'll see what happens.
If you know where any details can be found on this, please post the links here.