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Dougherty & Company Weighs In On Pandora Rumors

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Speaking to Benzinga, Dougherty & Company Analyst Steven Frankel discussed rumors surrounding Pandora Media Inc (NYSE: P).

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.

Kevin Riley and Brianna Valleskey contributed to this report.

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