Pandora (P) Falls on More Apple (AAPL) iRadio Chatter
Shares of Pandora Media (NYSE: P) declined over 7 percent on Friday. Unsurprisingly, the decline relates to more talk about Apple (Nasdaq: AAPL) iRadio, also tentatively called iMusic. The latest reports come from CNET and say Apple is nearing a potential deal with Warner and Universal Music labels.
Speaking on CNBC, CNET's Paul Sloan said he thinks iRadio terms will include lower, fixed rates. Previous reports from Verge say Apple is pushing hard for a summer launch and may pay just 6 cents to stream 100 songs versus 12 cents for Pandora.
Speaking on CNBC, CNET's Paul Sloan said he thinks iRadio terms will include lower, fixed rates. Previous reports from Verge say Apple is pushing hard for a summer launch and may pay just 6 cents to stream 100 songs versus 12 cents for Pandora.