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Pandora (P) Stock Gains on Licensing Deals

NEW YORK (TheStreet) -- Shares of Pandora Media (P) were advancing in pre-market trading on Tuesday after the Oakland, CA-based music streaming service announced that it has signed direct licensing agreements with Merlin Network, Sony Music and Universal Music Group, as well as The Orchard and more than 30 other independent labels and distributors.

These music companies join more than 2,700 publishers that have partnered with Pandora to...