AM News: Facebook Tests ‘Happening Now’, Pandora IPO Bump, Sony Hack Arrests, PledgeMusic & More

Facebook has begun testing "Happening Now", a new feature displaying at-a-glance a list of what their friends are sharing, who they are adding as friends and displaying checkin notifications in real-time. (TMW)

• Pandora bumps IPO price from $10 – $12 based on early investor interest. (AllThingD) The company's value is now pegged at $1.9 billion.
• Spain arrests 3 alleged in Sony hacking case. (Mashable)

MORE:

• EU based fan funding platform PledgeMusic is expanding to the U.S. Randy Sabiston, formerly SVP at publisher S1 Songs, is the new Pledge managing director for North America.
• CBS Radio launches personalized radio service in direct competition to Pandora using the Last.fm platform. (FMQB)
• Borders.com cuts prices sitewide, bringing them in line with Amazon. (paidContent)
• Did The Recording Industry Really Step Back From Three Strikes? Or Is It Playing Word Games? (Techdirt)
• Ringback tones a failure in the United States – but why? (Fierce Mobile)
• Universal Music Group Distribution has promoted Mike Jakary to Vice President of Label and Field Marketing.