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Wireless

Pandora gets USD 480 mln from SiriusXM, sells Ticketfly

Friday 9 June 2017 | 18:00 CET | News
Digital music service Pandora said it has received a USD 480 million cash investment from SiriusXM and sold its Ticketfly operation to Eventbrite for USD 200 million. The transactions come after the company announced in May that it was evaluating its strategic possibilities for the future. Pandora said the deals will give it a strong balance sheet, sharpen its operational focus, and strengthen its board of directors. Going forward, the company intends to make targeted investments and build up its position in the streaming radio business. Under the deal, SiriusXM will name three people to

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Categories: Mobile & Wireless
Companies: Pandora
Countries: United States
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