Is this iconic piece of Canadian culture done?

The license for the theme music for the cult-like Canadian TV broadcast known as CBC network's Hockey Night in Canada (HNIC), which airs every Saturday night during the NHL hockey season and about every other night during the playoffs, was not successfully renewed. Reasons for the deal falling through are sketchy, but an imminent fee increase and an unresolved 4 year old lawsuit by the song composer may be contributors. CBC wanted the lawsuit dropped and the fee left at the same level (supposedly the highest fee per song use in the country - $500). They even offered to buy the song outright for a large sum.

Many seem to think that the CBC has lost their minds not to do everything in their power to settle this, but there is always 2 sides to the story and we have yet to hear why the composer's side hasn't settled for what the CBC asked for.

The theme song is a part of Canadian culture and has been heard blasting out of TV sets since 1968. But as a result of the impasse, CBC will launch a national contest to find a new theme for HNIC. The story goes that the winner will receive $100,000 and proceeds from any royalties will go to minor hockey in Canada.

[update] Apparently, CTV (one of CBC's main competitor networks) just rescued the theme for use on their own hockey broadcasts (CTV owns the sports network TSN). FAIL!