On Friday, Shares of Pandora Media Inc (NYSE:P), gained 2.01% to $12.70.
Pandora, declared a multi-year licensing agreement for Sony/ATV’s catalog of musical works. The direct publishing deal creates business benefits for Pandora, while modernizing compensation for Sony/ATV and its songwriters in the U.S.
“We believe that this agreement with Pandora is a major step in the right direction to ensure that our songwriters are fairly compensated for the use of their music on streaming services,” said Martin Bandier, Sony/ATV Chairman and CEO. “We are happy that our songwriters will start to enjoy the benefit of better rates on one of the most important platforms for music consumption and discovery. It is part of our ongoing strategy to ensure that all digital music services recognize the indispensable value that the words and music of a song bring to their businesses.”
“This is a noteworthy milestone in our long-standing effort to strengthen ties with the music maker community,” said Brian McAndrews, chief executive officer of Pandora. “Over 10 years, Pandora has built music’s most powerful marketing engine, which we put into action every day for Sony/ATV’s storied catalog. By partnering directly with Sony/ATV, we are proud to lock in our opportunity to connect an incredibly talented community of songwriters with streaming music’s largest and most passionate audience.”
While specific terms of the multi-year agreement are confidential, the companies worked together to build an innovative win-win approach to publisher economics. Sony/ATV achieved its aim of delivering improved performance royalties for its songwriters while Pandora will benefit from greater rate certainty and the ability to add new flexibility to the company’s product offering over time.
Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy catalogs, in addition to offers Pandora One, a paid subscription service to listeners.
Shares of Swift Transportation Co (NYSE:SWFT), inclined 2.94% to $17.52, during its last trading session.
Swift Transportation Company, declares that it will take part in the Baird 2015 Industrial Conference on Wednesday, November 11, in Chicago. The company’s presentation and Q&A negotiation will start at 10:00 a.m. (CST).
Swift Transportation Company operates as a multi-faceted transportation services company in North America. The company operates through four segments: Truckload, Dedicated, Central Refrigerated, and Intermodal. The Truckload segment provides services through one-way movements over irregular routes utilizing company’s and owner-operator tractors with dry van, flatbed, and specialized trailing equipment.
Finally, Shares of CDW Corp (NASDAQ:CDW), ended its last trade with - 5.71% loss, and closed at $43.62.
CDW Corporation, declared that its Board of Directors has declared a quarterly cash dividend of $0.1075 per common share to be paid on December 10, 2015 to all shareholders of record as of the close of business on November 25, 2015. This represents an annual dividend of $0.43 per share, 59 percent higher than last year’s level. Future dividends will be subject to Board approval.
“When we declared our refreshed capital allocation priority last year we set out a target of returning 30 percent of free cash flow to shareholders via dividends by the end of five years,” said Ann E. Ziegler, senior vice president & chief financial officer, CDW. “Recently’s action brings us closer to that target and reinforces our commitment to delivering both near and long-term value to our shareholders. Since our IPO in June 2013 our dividend has more than doubled.”
CDW Corporation distributes information technology (IT) solutions in the United States and Canada. It operates in two segments, Corporate and Public. The company offers discrete hardware and software products to integrated IT solutions, counting mobility, security, data center optimization, cloud computing, virtualization, and collaboration.