In a brief report, CNBC says SiriusXM is in talks to acquire Pandora, according to sources.
“The two companies, while talking, remain in disagreement on value, sources said. CNBC first reported that Pandora was open to the sale in December, and the talks have continued on-and-off since, sources said,” CNBC reports.
Currently, Pandora (P) is up $0.67, or 7.50% to $9.60. SiriusXM (SIRI) is up $0.14, or 3.07%, to $4.88.
Full article here.
MacDailyNews Take: SiriusXM likely wants beleaguered Pandora in order to goose its own anemic streaming component, but only at the right price.
Simple mathematics makes it blatantly obvious what going to happen to Pandora. — MacDailyNews, September 24, 2013
Pandora gets $150 million KKR investment; explores strategic alternatives, including sale – May 9, 2017
Apple Music passes Pandora and Spotify in mobile usage – March 29, 2017
Spotify hits 50 million paid subscribers – March 3, 2017
Apple Music still trails Spotify’s growth rate – December 19, 2016
Apple Music surpasses 20 million paid members 17 months after launch – December 6, 2016
Apple offers students half-price $4.99 Apple Music subscriptions starting today – May 6, 2016