It obviously came as an over burden for Pandora when Apple fails to move in accordance with the popular speculations and reports that the two great companies may have a powerful business relationship soon.
Hence, Pandora shares are currently suffering a great crush with the current news in the air that Apple will soon introduce by 2013 a powerful radio service. This is really a tough time for Pandora.
Of course, the news is not in favor of Pandora this time. Wall Street Journal had earlier reported in September that Apple had in mind to flow with Pandora in the new business venture, and the report really gave a big boast to Pandora shares. In other words, it moved in their favor that time.
But today, everything has really fallen apart against Pandora. Now, they are now facing the reality. A report from Bloomberg has it this time that Apple has chosen to ride on with different music companies instead of Pandora. According to the report from Bloomberg, Apple has gone into deep business dialogue with these companies with regard to how to kick off an internet radio service which has an ad-supported link. The report said that the business will take off early next year.
Officials from Warner Music Group, Universal Music Group and Sony’s music division, according to Bloomberg, recently went to Cupertino just to get more clues about Apple’s intention concerning the radio service.
Therefore, there is the possibility that Apple and the companies involved in the business venture will reach a compromise in the middle of next month, that is, November.
Apparently, Pandora shares have a lot of pains to swallow this time.