Pandora Buys Terrestrial Radio Station

In an interesting move, Pandora just bought a small FM radio station in South Dakota. Pandora is hoping that the purchase qualifies the company to receive the same music royalty rates as competitors like Clear Channel, CBS, and Cumulus. There's no guarantee that Pandora's interpretation of the move is correct. The terms of the purchase deal weren't disclosed, but Bloomberg reports that the purchase could lead to "saving of less than 1% of revenue." Read more about Pandora's acquisition and their new rates here.