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Fly News Breaks for September 22, 2015
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Sep 22, 2015 | 08:09 EDT
After the Register of Copyrights issued an opinion to admit Pandora's deal with Merlin as evidence in Pandora's royalty case, JMP Securities says that Pandora's statements indicate that the Merlin deal is based on lower fees than Pandora's overall costs. The firm thinks that the decision lowers the risk facing Pandora on the royalty front. However, it views the stock's risk/reward ratio as balanced and keeps a Market Perform rating on the shares.
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