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

Monday 24 September 2018 | 14:17 CET | News
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.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Internet / Mobile & Wireless
Companies: Pandora / Sirius XM Radio
Countries: World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


SiriusXM invests USD 75 mln for stake in Soundcloud

Published 11 Feb 2020 14:38 CET | United States
The digital music platform SoundCloud has agreed a capital injection of USD 75 million from SiriusXM. SoundCloud will use the ...

SiriusXM releases new streaming subscription package

Published 23 Apr 2019 17:20 CET | United States
SiriusXM said it's expanding its subscription choices and introducing the low cost, "Essential" streaming-only package. The ...

Pandora shareholders approve takeover by SiriusXM

Published 30 Jan 2019 10:38 CET | United States
Streaming music group Pandora said its shareholders have approved the company's acquisition by satellite radio provider SiriusXM, ...

Pandora lifts revenues 16%, continues to reduce losses in Q3

Published 06 Nov 2018 09:36 CET | United States
Streaming music service Pandora, acquired in September by SiriusXM, said revenues for the third quarter advanced 16 percent from ...

SiriusXM inks major promotional deals with Amazon, launches new audio channels

Published 18 Oct 2018 17:34 CET | World | Update: 18 Oct 2018 17:57 CET
After buying Pandora for USD 3.5 billion in September, SiriusXM said it has signed a new marketing agreement with Amazon. There ...

Nearly nine in ten internet users listen to streaming music - IFPI

Published 15 Oct 2018 15:22 CET | World
Nearly nine in ten (86%) internet users in advanced economies listen to streaming music, according to a survey by the ...

Apple completes takeover of Shazam

Published 25 Sep 2018 09:24 CET | World
Apple has completed its acquisition of Shazam after earlier winning clearance from the Europen Commission earlier this month. The ...

SiriusXM koopt Pandora voor USD 3,5 miljard in aandelen

Published 25 Sep 2018 08:28 CET | World
Satelliet-radioaanbieder Sirius XM gaat met een aandelendeal muziekgroep Pandora overnemen. Dat zijn de bedrijven overeengekomen. ...

Streaming platforms up to 75% of US music revenue in H1

Published 21 Sep 2018 13:49 CET | United States
US music industry revenues rose by 10 percent year on year to USD 4.6 billion in the first 6 months of 2018, with streaming ...

Pandora reduces losses in Q2 as revenues grow 12%

Published 01 Aug 2018 08:42 CET | United States
Streaming music service Pandora reported revenues of USD 384.8 million for the second quarter, up 12 percent excluding the sold ...

Pandora becomes music streaming partner for Snap

Published 15 Jun 2018 17:38 CET | United States
Digital music service Pandora has agreed to be the music streaming partner for Snap, with its new Snap Kit platform for ...

Pandora launches Premium Family deal for USD 14.99 per month

Published 28 May 2018 15:38 CET | United States
Digital music service Pandora has launched Pandora Premium Family, a deal that can service up to six accounts simultaneously, for ...

Pandora prices convertible note exchange transactions

Published 25 May 2018 09:04 CET | United States
Digital Music service Pandora said it has priced a number of convertible note exchange transactions. The aim of the exchange is ...

Pandora subscriber revenue surges 63% in Q1

Published 04 May 2018 09:45 CET | World
Digital music service Pandora reported better-than-expected revenues of USD 319.2 million in the first quarter, up 12 percent ...

Streaming platforms account for two-thirds of US music revenue

Published 23 Mar 2018 13:50 CET | United States
US music industry revenues rose significantly for the second consecutive year to USD 8.7 billion in 2017, up 17 percent on the ...

Pandora to push 'aggressive' transformation plan, starting with job cuts

Published 01 Feb 2018 09:16 CET | World
Digital music service Pandora has unveiled a major restructuration plan that would see the company save about USD 45 million per ...

Pandora gets USD 480 mln from SiriusXM, sells Ticketfly

Published 09 Jun 2017 18:00 CET | United States
Digital music service Pandora said it has received a USD 480 million cash investment from SiriusXM and sold its Ticketfly ...