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Wednesday, June 7, 2017

THE FUTURE OF PANDORA

Pandora’s stock price declined to $8.48 as Thursday’s deadline approaches for the online music streaming service to accept or decline a $150m investment from private equity firm KKR.

Pandora's closing price today was $8.48 a share; the stock slid 7.7% Tuesday. After reports that Verizon, which is busy gobbling up Yahoo, may be interested in investing in Pandora, the stock rose Monday to $9.36.

KKR is set to invest $150m in Pandora, plus provide another $100m in return for a board seat at the company and preferred shares. Pandora has a $2.25b market cap.

Liberty Media, which has a majority stake in Sirius XM, is also considered a potential suitor.

 
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