SiriusXM buying Pandora would make Ticketfly and Ticketmaster cousins
Did you know that the Atlanta Braves and Formula 1 are both owned by Liberty Media who also own a controlling stake in SiriusXM and approximately 34% of Live Nation? Live Nation owns Ticketmaster and Ticketweb. Ticketfly, which was created by Andrew Dreskin after he created Ticketweb, is owned by Pandora. Liberty Media-backed SiriusXM is once again in talks to buy Pandora, according to sources at various media outlets. The NY Post reports:
The New York satellite radio company, which has exhibited on-and-off interest in the struggling streamer, has recently restarted talks with Pandora’s banks and is discussing the size of a potential offer, sources said.
People close to SiriusXM indicated that the two companies, while talking, have not reached an agreement on value. After Pandora's latest quarterly financial report, SiriusXM has some qualms that the subscription business has taken priority over the original streaming business, sources said.
CNBC first reported that Pandora was open to selling itself to SiriusXM in December, after rejecting a takeover offer last July. At that time, one person referred to the situation as being "the first inning of the process."
The talks have continued on and off since, sources said. Pandora shares rose 7 percent on Thursday morning.
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After buying and shutting down RDIO, Pandora recently launched their on-demand music service Pandora Premium (which competes with Spotify and Apple Music), and a new "Sounds like Gorillaz" station to go along with that band's new album.
UPDATE: It was also recently reported by Bloomberg that Pandora may sell Ticketfly, though they say that would be a backup plan to not getting bought completely.