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US: Could Pandora Media be sold?

 |  December 4, 2016

Shares of Pandora Media jumped Friday on a report that the company is finally ready to consider a merger.

On Friday, CNBC reported that the music streaming service was now open to an offer from satellite radio provider Sirius XM. The news is a change from July, when Pandora reportedly rejected Sirius’ offer valued at $15 a share because the price was too low.

The problem for Pandora is that its stock has continued to struggle, making the Sirius takeover a more appealing option. There doesn’t seem to be a better strategy for the company, which has struggled to compete with more modern streaming services from Spotify and Apple.

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