Pandora has secured its acquisition of US terrestrial radio station KXMZ-FM for $600,000, after nearly two years of awaiting for approval from the Federal Communications Commission (FCC).
News of the purchase first surfaced in June 2013, before being scrutinised due to a law that prevents broadcast radio stations from being owned by foreign entities. KXMZ-FM broadcasts out of Rapid City, South Dakota.
Owning KXMZ-FM will mean Pandora can take advantage of ASCAP's lower royalty rates - offered to firms ...
To access this article you need to be a subscriber. If you are a subscriber login below.
Login NowIf you have previously taken a trial you will need to subscribe to access this article.
Subscribe Now