Desperate times call for desperate measures. The music-streaming service has agreed to a $480 million investment from SiriusXM. In doing so, it's taking a 0 million loss on Ticketfly, which Pandora bought just 18 months ago.*
Pandora rejected an offer from SiriusXM to buy the struggling online radio service outright, CNBC reported. Pandora had said ** to earlier offers because the company felt they didn't value the company high e**ugh. Instead, Pandora will get $480 million through a strategic cash investment. SiriusXM gets to choose three new members of Pandora's board of directors and a new chairman.* Read more...