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Fly News Breaks for September 21, 2015
P
Sep 21, 2015 | 12:25 EDT
Though a final ruling is not due until the end of December, the Register of Copyrights' interim determination that Pandora's direct deals with Merlin and Naxos are admissible is a positive indicator for the company, said Piper Jaffray analyst James Marsh. Marsh, who noted that Pandora's direct deals were done at 13c, compared to 25-29c that SoundExchange wants Pandora to pay going forward, thinks the CRB's decision will come in a "reasonable range" of 18c-20c. The analyst keeps an Overweight rating and $23 price target on Pandora shares.
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