Did Merlin’s Caldas Lie in Billboard Article About Lower Rates?

On Aug 6th this article  written by Glenn Peoples in Billboard Magazine  “Pandora Signs First Direct Label Deal With Merlin”



Caldas added the partnership will financially benefit Merlin’s artists and labels. Although no financial details were made available, he suggested the terms are no worse than the statutory rates previously received. “We wouldn’t do any deal where there was any risk we were going to get paid less.”

“No worse than statutory rates previously received”  which when used by normal  human beings means not lower rates.

But we now know from the Pandora filing (even with the redactions) that this is not true.

Read the pandora filing here:


Will Billboard call him out on this?  Did Billboard MisReport?