US digital radio service Pandora has agreed to a $90 million settlement with a coalition of independent and major record companies for the use use of recordings made before Feb. 15, 1972.    

The announcement, coupled with lower than anticipated financial results, sent Pandora's share dropping close to 20%. Pandora‘s net loss reached $85.9 million, compared to $2m a year ago. On the positive side, Pandora's revenue rose to $311.6 million from $239.6 million, with growth registered in ad revenues ...