Pandora Pursues KXMZ Again

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RAPID CITY, SD — Pandora Radio LLC is taking another swing at purchasing KXMZ-FM “Hit’s 102.7” from Connoisseur Media, after being challenged by ASCAP for possibly exceeding the 25% foreign investment cap. Pandora has filed a Petition for Declaratory Ruling with the Federal Communications Commission (FCC), in order to get clearance from the agency for purchase.

Pandora states that it: “has reasonable grounds to believe that U.S. entities own and vote more than 80%” of its shares and asks that “to the extent that the Commission requires Pandora uniformly to treat unidentifiable shareholders as foreign… (that the FCC) permit Pandora to be up to 100% beneficially owned by foreign entities and for foreign entities to hold up to 49.9% of the aggregate voting authority over Pandora,” which the company says would “prohibit foreign investors from acquiring voting control over PANDORA” and “better aligns the Commission’s foreign ownership limitations with other federal agency policies, such as the SEC’s shareholder privacy rules.”

KXMZ serves the Rapid City, South Dakota (DMA) with a Adult Contemporary format.

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