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Fly News Breaks for March 29, 2016
P
Mar 29, 2016 | 06:05 EDT
Piper Jaffray analyst Stan Meyers views the management changes at Pandora Media as a "positive force that could navigate the ship out of rough waters." The appointment of founder Tim Westergren to CEO is a sign that the company is not up for sale, Meyers tells investors in a research note after meeting with Pandora CFO Michael Herring. The analyst believes the return of Westergren should help lock-in major music labels into new direct licensing deals. He keeps a Neutral rating on the name citing uncertainty around the business model, but says he's starting to see some positive momentum at Pandora.
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