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Pandora Buys South Dakota Station to Get Radio Content Rates

Pandora Media Inc., the biggest online radio service, bought a station in South Dakota to gain the same access to music and rates as terrestrial competitors.

Buying KXMZ-FM in Rapid City qualifies Pandora for the same rights and prices enjoyed by competitors such as Clear Channel Communications Inc., CBS Corp. and Cumulus Media Inc., Pandora’s assistant general counsel, Christopher Harrison, said in a letter posted on TheHill.com., a Washington news website. The acquisition may lead to cost savings of less than 1 percent of revenue, Pandora said yesterday in a regulatory filing. Terms of the deal weren’t disclosed.