Pandora Media Status
The company reached a definitive agreement to be acquired by Sirius XM Radio (NASDAQ: SIRI) for $3.5 billion on September 24, 2018. Sirius offered 1.44 new common shares per Pandora share. The acquisition will help Sirius XM Radio diversify their revenue streams with ad-supported audio offering and broadens their technical capabilities while representing a step forward in their efforts to expand their reach out of the car even further. The deal is expected to close in the first quarter of 2019.