NEW YORK—Subscription radio company SiriusXM says it’s buying music streaming service Pandora Media Inc. in a deal valued at about $3.5 billion that will allow it to expand its service beyond cars and into mobile devices and homes. Satellite radio provider Sirius XM said on Sept. 24, 2018, that it would acquire music streaming service Pandora Media for $3.5 billion, in a bid to corral listeners who don’t want to pay for premium channels. ( RAMIN RAHIMIAN / New York Times )But a buyout by SiriusXM, which made a $480 million investment in Pandora in June 2017, may be the boost the business needs. Article Continued BelowNew York-based SiriusXM Holdings Inc. has more than 36 million subscribers in North America, while Pandora has more than 70 million monthly active users. Pandora stockholders will receive 1.44 newly issued SiriusXM shares for each Pandora share they own.

Source: thestar September 24, 2018 16:42 UTC