SiriusXM buys Pandora to create 'the world's largest audio entertainment company'

A pioneer of the Internet radio market, Pandora couldn’t fend off the likes of Spotify and Apple Music in recent years, merely releasing a direct rival for the two hugely popular music streaming services in 2017.

Last year also saw a different veteran of both the online radio and satellite radio industries pour a whopping $480 million into Pandora as a “strategic investment.” As it turns out, the next step in this strategy is a corporate acquisition, made official earlier today by SiriusXM.

The all-stock deal values Pandora at around $3.5 billion, creating the “world’s largest ...

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