SiriusXM to acquire Pandora

In a move that it says creates the world’s largest audio entertainment company, digital radio platform SiriusXM and music streaming service Pandora Media have agreed a deal under which SiriusXM will acquire Pandora in an all-stock transaction valued at approximately $3.5 billion (€2.97bn). The new operation has more than $7 billion in expected pro-forma revenue in 2018 and strong, long-term growth opportunities.

Source: SiriusXM to acquire Pandora