News - 11/04/2017

Pandora asks record labels for cash and better rates

Pandora asks record labels for cash and better rates

According to "Blomberg", Pandora executives have asked the major record labels for cash or better deal terms to stop ongoing losses and reduce pressure from impatient shareholders... but the labels seems unlikely to agree.

Its not that Pandora is short of cash; the case seems more that activist shareholders led by Corvex and their lone potential buyer SiriusXM are tired of slipping users stats, increased competition and royalty rates that make the music streamer deeply unprofitable.

The company lost $345 million last year, more than double its losses from the prior year.

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