UPDATE: PANDORA'S RDIO DEAL DOESN'T INCLUDE LICENSES

Pandora's $75 million acquisition of Rdio's assets, which will position the streaming-radio giant for a major on-demand play, does not include the licenses Rdio negotiated with rights holders. Pandora will have to negotiate a new set of licenses, but this will keep them clear of Rdio's debt, insiders say. The latter company is currently in bankruptcy court.