Pandora (P) has cut a short-term publishing royalty deal with Universal Music that's said to...

|About: Pandora Media (P)|By:, SA News Editor

Pandora (P) has cut a short-term publishing royalty deal with Universal Music that's said to feature the highest publishing royalties Pandora has ever paid. "Short-term" needs to be emphasized here: the deal comes as a rate court for trade association ASCAP prepares to rule on a Pandora motion claiming direct deals are illegal, and that publishers should accepts the rates the court assigns for ASCAP. Also, Pandora is suing ASCAP over its royalty rates, and just bought a Rapid City, SD radio station in an effort to lower its rates. Shares +1.4%, following markets higher.