{"id":12660,"date":"2017-06-14T16:00:24","date_gmt":"2017-06-14T16:00:24","guid":{"rendered":"http:\/\/routenote.com\/blog\/?p=12660"},"modified":"2023-12-13T13:47:06","modified_gmt":"2023-12-13T13:47:06","slug":"pandora-radio-get-480-million-investment-sirius-xm","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/pandora-radio-get-480-million-investment-sirius-xm\/","title":{"rendered":"Pandora Radio get a $480 million investment from Sirius XM"},"content":{"rendered":"

Recent rumours come to a close\u00a0as Sirius XM plugs a massive $480 million into Pandora, quashing suggestions that they were looking to acquire Pandora outright.<\/h2>\n

Recent rumours in the industry had spread word that there were talks between Sirius XM and Pandora. The rumours suggested that US satellite radio company Sirius XM were looking to acquire the music streaming service. Now it has become clear that Sirius XM aren’t acquiring Pandora but instead putting a massive investment into the company.<\/p>\n

The deal which was announced Friday morning will see Sirius invest $480 million in series A convertible Pandora preferred stock. Their investment gives Sirius 19% of Pandora’s outstanding shares. Their investment will be convertible into common stock for $10.50 a share, which is 23.8% above the closing price last Thursday.<\/p>\n

This investment squashes rumours of a potential Sirius XM buyout of Pandora as it prevents Sirius buying any additional Pandora stock for 18 months or to purchase more than 31.5% of Pandora stock without approval from Pandora’s board.<\/p>\n

A few weeks before this deal KKR had agreed to invest $150 million into Pandora however in light of this new investment it is likely that Pandora will no longer accept the funding. In the first 10 minutes of active trading on Friday morning Pandora’s stock rose by an impressive 3.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent rumours come to a close\u00a0as Sirius XM plugs a massive $480 million into Pandora, quashing suggestions that they were looking to acquire Pandora outright. Recent rumours in the industry had spread word that there were talks between Sirius XM and Pandora. The rumours suggested that US satellite radio company Sirius XM were looking to acquire the music streaming service. Now it has become clear that Sirius XM aren’t acquiring Pandora but instead putting a massive investment into the company. The deal which was announced Friday morning will see Sirius invest $480 million in series A convertible Pandora preferred stock….<\/p>\n","protected":false},"author":12,"featured_media":12661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[43,2509,18,252,6936,1496,28,114,799,1282,958,3974,422,8942],"acf":[],"yoast_head":"\nPandora Radio get a $480 million investment from Sirius XM - RouteNote Blog<\/title>\n<meta name=\"description\" content=\"Recent rumours come to a close as Sirius XM plugs a massive $480 million into Pandora, quashing suggestions they were looking to acquire Pandora outright.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/pandora-radio-get-480-million-investment-sirius-xm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pandora Radio get a $480 million investment from Sirius XM - 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