Sirius XM to buy Pandora
The company that owns Sirius XM, Liberty Media, announced its plans to purchase the internet radio giant Pandora for $3.5 billion US dollars. The acquisition will combine a total of 106 million users. This will also strengthen the company’s on-demand streaming and internet radio capabilities.
Some of the major internet radio players in the market are Spotify, which also dominates the Europe market, and the nation’s top radio broadcaster iHeartMedia, who on announced earlier this year it will be filing for bankruptcy. This presents a huge market opportunity for those who want to invest in internet radio, as there is not much competition in this sector.