Pandora (P -1.1%) has ticked lower on an NY Post report Sony/ATV (SNE) has negotiated a 25% increase in royalties. The reported hike comes as Pandora lobbies hard to bring its royalty rates in line with those of satellite radio providers via the Internet Radio Fairness Act. The paper adds Sony/ATV "will now seek better deals from other digital music players," and that other music publishers could try to negotiate new deals. Update: Rocco Pendola notes the Sony/ATV deal involves composition/publishing rights, which make up only 4% of Pandora's content costs.
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