Dougherty & Company Weighs In On Pandora Rumors

Speaking to Benzinga, Dougherty & Company Analyst Steven Frankel discussed rumors surrounding

. With Pandora in the midst of re-negotiating royalties, Frankel did not feel the company would seek to sell itself. Addressing rumors that Jay Z might be a potential buyer, Frankel did not think it seemed likely because Jay Z made an investment in Tidal, an on-demand music service. On the unconfirmed rumor of Jay Z potentially making an investment in Pandora, Frankel said, "It doesn't make any sense to me." Pandora recently traded at $16.53, up 7.83 percent.