Subscription radio company SiriusXM says it's buying music streaming service Pandora Media Inc. in a deal valued at about $3.5 billion US. But a buyout by SiriusXM, which made a $480-million US investment in Pandora in June 2017, maybe the boost the business needs. The ability to provide a subscription service that gives Pandora customers access to streaming music and satellite radio could help set it apart from its rivals and would likely draw in new customers. Meanwhile, the deal will help SiriusXM tap into Pandora's mobile strength while giving it the chance to improve in areas such as making personalized listening recommendations. Pandora stockholders will receive 1.44 newly issued SiriusXM shares for each Pandora share they own.

Source: CBC News September 24, 2018 20:15 UTC