Why did Pandora (P) buy a radio station in North Dakota?

I want to look at Pandora ( $P Pandora Media Inc ). This stock is in a pretty good buy spot right here; you can see the uptrend, nice support at the 50-day moving average.

Here’s the thing, last week the company announced that they were buying some radio station on the planet earth, North Dakota to be exact. The market kind of scratched its head like, why are you going to do that? I think it was on Wednesday when that happened. But the deal is they’re now going to save on their royalties. Because they’re streaming, Pandora ( $P Pandora Media Inc ) pays a little bit more in royalties than they would if they were just a regular terrestrial radio station. So they’re kind of getting around that by buying this station.

That’s a nice little fundamental development; earnings are at the end of August so we’ve got quite a while for this stock to run. I’m looking at this as a pretty good buy point right now as long as the stock stays up above fourteen or so, then I think you’re good to go on this one.