SiriusXM Has Restarted Talks to Acquire Pandora

SiriusXM Has Restarted Talks to Acquire Pandora

SiriusXM Has Restarted Talks to Acquire Pandora

SiriusXM is in talks to acquire Pandora, according to reports from CNBC and the New York Post.

Pandora Media (P), the Internet radio company, could get a buyout offer from SirusXM (SIRI) the satellite radio provider backed by Liberty Media (LSXMB).

"Pandora actually under-monetizes on its listening has a superior product to numerous other free services", Maffei said in a Liberty Media earnings conference call on May 9.

SiriusXM and Pandora are back in serious talks about an acquisition of the music streamer.

The Post sources say that the purchased price could go as high as $12-$13.

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It had been previously reported that Pandora aimed to find a buyer within 30 days of signing a deal with KKR, which took place a little over a week ago.

Liberty Media is the majority owner of SiriusXM, and CEO Greg Maffei has been open about his interest in Pandora.

Pandora has been aiming to boost its revenue and to meet that end it launched a traditional subscription-based music service in March. People close to SiriusXM indicated that the two companies, while talking, have not reached an agreement on value.

Pandora reported 1.3 million trials of its on-demand products in the first quarter and a 6% rise in revenue, to $316 million.

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