SiriusXM has agreed to purchase the net music streaming service Pandora Media, The New York Times stories. According to a press release from SiriusXM, Pandora is valued at $3.5 billion. The press launch additionally states, “The transaction is expected to close in the first quarter of 2019.”
SiriusXM has over 36 million subscribers in North America. Pandora has over 70 million month-to-month customers. Last 12 months, SiriusXM invested $480 million in Pandora.
Read Pitchfork’s characteristic “Playlists! Lawsuits! Fake Songs! The Biggest Streaming-Music Trends of 2017.”
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