SiriusXM will purchase Pandora for $ 3.5 billion. Satellite radio company announced its intention to maintain the service and brand Pandora of approximately 70 million active users (including 5.6 million paid members), twice the existing subscribers of Sirius XM's 36 million people.
SiriusXM has invested in advance $ 480 million to acquire 19% of the shares of streaming services in June 2017, suggesting the possibility of intent to acquire. Pandora plans to participate in the SiriusXM portfolio as the first full streaming service to supplement existing radio services including Internet subscription only.
Pandora has lasted nearly 20 years, but in recent years, I have a hard time with new streaming music players such as Spotify and Apple Music. Initially, Pandora used music based on your preference as a radio type service rather than letting you choose a catalog. Later, in 2017 Pandora Premium was released, users can create personalized playlists. In the first half of 2018, the company lost more than $ 200 million.
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SiriusXM Acquires Pandora for $ 3.5 Billion
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