Pandora Said to Seek Money, New Terms From Record Labels

Pandora Media Inc., the embattled music streaming company, has asked major record labels for money or better deal terms to help reverse losses and reduce pressure from impatient shareholders, according to people familiar with the matter.

Top executives at Pandora have reached out with a couple of proposals for their counterparts at the record labels, which sell Pandora the rights to vast catalogs of music, said the people, who asked not to be identified discussing private information. In addition to asking for direct investments from the labels, Pandora has sought to renegotiate licensing deals to reduce its costs, they said. The labels are unlikely to accede to the requests, the people said.