Pandora Web radio fans soar

Investor's Business Daily

The number of listeners the Internet radio service has continues to grow at 80%-plus levels, the company said, sending shares up 4% in early trading. William Blair, which has a top rating on Pandora (NYSE:P), said in a report that a deal between radio company Clear Channel, a Pandora rival, and music label Big Machine signals that Pandora has a good chance to pay lower music royalties when its rates reset in 2015. Shares of Pandora, which competes with Sirius XM Radio (SIRI - News), rose 6.7%. Sirius rose 1.3%.

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