In a U.S. regulatory filing, Pandora (NYSE:P) says it may sell KXMZ-FM, the South Dakota radio station it purchased last year to get lower music royalty rates.
Pandora told the FCC in a March 28 letter that it is “reevaluating” its strategy and is considering whether it intends to remain a broadcaster. For that reason, Pandora doesn’t want to request shareholders to make substantial changes to its organizational documents.
Pandora is down 1.4% AH.
Yesterday: Pandora CEO change cools takeout speculation
Source : seekingalpha.com