Pandora (P +5%) is rallying following Friday's introduction of the Internet Radio Fairness Act,...

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

Pandora (P +5%) is rallying following Friday's introduction of the Internet Radio Fairness Act, a Congressional bill that would allow federal judges to determine Internet radio royalty rates based on their judgement of the value of the covered music - an approach similar to how satellite radio royalties (much lower on average) are determined. Pandora, whose royalty payments made up roughly half of its 2011 revenue, is praising the bill.