Musics

SiriusXM Announces $3.5 Billion Acquisition Of Pandora

24 days ago   |   By Ubergizmo

SiriusXM today announced that it's acquiring internet music streaming company Pandora for $3.5 billion. It says that the Pandora brand and service will be retained after the acquisition so the service's almost 70 million monthly active users don't have anything to worry about right now. SiriusXM itself has some 36 million subscribers.
This acquisition is hardly surprising given that SiriusXM had invested $480 million in Pandora last year for a 19 percent stake in the company. It was first speculated at that time that SiriusXM could eventually buy the company outright. That's what has...
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SiriusXM to Acquire Pandora for $3.5 Billion

SiriusXM to Acquire Pandora for $3.5 Billion

24 days ago   |   By Mac Rumors

Siri usXM today announced that it will acquire Pandora for $3.5 billion in an all-stock transaction, creating "the world's largest audio entertainment company," according to Pandora's press release on the news. The transaction has been unanimously approved by both the independent directors of Pandora and by the board of directors of SiriusXM, and is now expected to close in Q1 2019.
The companies explain that through the acquisition SiriusXM will use Pandora's platform to "significantly expand" its presence beyond vehicles, and into the user's home and smartphone devices. Still, it's...
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