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Pandora Wins Approval to Buy Rdio for $75 Million

Submitted by jhartgen@abi.org on

Pandora Media Inc. said yesterday that it has bought bankrupt subscription music service Rdio Inc. for $75 million, a day after it struck deals with the music industry’s biggest rights licensing groups, the Wall Street Journal reported today. Pandora signed two separate multiyear agreements with the American Society of Composers, Authors and Publishers, and Broadcast Music Inc. to access their combined catalogs of more than 20 million musical works.