Pandora gets $150 million KKR investment; explores strategic alternatives, including sale

“Pandora Media Inc. said on Monday that KKR & Co LP has agreed to invest $150 million in the music streaming service, while the company explores strategic alternatives, including a sale,” Reuters reports.

“Pandora said Richard Sarnoff, KKR’s head of media & communications private equity investing in the Americas, will join its board,” Reuters reports. “‘We have positioned the company to evaluate any potential strategic alternatives, including a sale, in the 30 days before the financing is set to close,’ board member James Feuille said in a statement.”

Reuters reports, “Pandora faces stiff competition from services such as Sweden’s Spotify, Apple Inc’s Apple Music, Google’s Play Music and Inc’s Amazon Music Unlimited, which dominate the on-demand music service market.”

Read more in the full article here.

MacDailyNews Take: The beginning of the end.

Simple mathematics makes it blatantly obvious what going to happen to Pandora.MacDailyNews, September 24, 2013

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