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SiriusXM buys Pandora for USD 3.5 billion in all-stock deal

2018-09-24 14:17:00| Telecompaper Headlines

(Telecompaper) Satellite radio provider Sirius XM has agreed to buy streaming music group Pandora in an all-stock transaction worth USD 3.5 billion. Pandora said the deal will create the world's largest audio entertainment company, with more than USD 7 billion in expected pro-forma revenues for this year and strong, long-term growth opportunities. The transaction will help SiriusXM significantly expand its presence beyond vehicles and into the home and other mobile areas, while strengthening Pandora's position in the competitive online market.

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Category:Telecommunications

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