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Tuesday, June 11, 2013 - 8:38pm
NEW YORK (CNNMoney) — Online music provider Pandora is now a radio station owner.
The company purchased KXMZ-FM in Rapid City, South Dakota for an undisclosed amount.
Pandora bought the radio station to mainly lower it's royalty rates.
Pandora claims it's forced to pay higher royalties to music publishers than other music providers.
Pandora says ASCAP discriminates against the company by charging it higher royalty rates, as well as letting publishers pull their song catalogs from Pandora while keeping them available for competitors.