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Pandora Media Inc (P.N)

P.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Pandora Media says ‍Roger Lynch to receive annual base salary of $650,000
Monday, 14 Aug 2017 05:04pm EDT 

Aug 14 (Reuters) - Pandora Media Inc -:Pandora Media-‍roger J. Lynch to receive annual base salary of $650,000, to be eligible for annual target bonus equal to 100% of his base salary​.Pandora Media-‍lynch's offer letter also provides for grant of rsu valued at $3.3 million with a four-year service-based vesting period - sec filing​.  Full Article

Pandora appoints Roger Lynch as chief executive officer
Monday, 14 Aug 2017 04:05pm EDT 

Aug 14 (Reuters) - Pandora Media Inc -:Pandora announces appointment of Roger Lynch as chief executive officer.Pandora Media Inc - ‍michael Lynton, chairman of Snap Inc., also joins board​.Pandora Media Inc - ‍roger Lynch has been appointed ceo and president at pandora​.Pandora media inc - ‍naveen Chopra, who has served as pandora's interim ceo since June 2017, will continue in his role as chief financial officer​.  Full Article

Pandora Media plans to discontinue business activities in Australia and New Zealand‍​
Tuesday, 1 Aug 2017 06:13am EDT 

Aug 1 (Reuters) - Pandora Media Inc :On June 27, 2017, announced plan to discontinue business activities in Australia and New Zealand‍​ - SEC filing.Discontinuation of business in Australia and New Zealand led to reduction of headcount of approximately 50 employees.Dissolution of Australia and New Zealand business operations expected to be completed in the three months ended September 30.Do not expect restructuring charges from Australia and New Zealand to have a material impact on financial statements.  Full Article

Pandora Media Q2 loss per share $1.20
Monday, 31 Jul 2017 04:02pm EDT 

July 31 (Reuters) - Pandora Media Inc ::Pandora reports q2 2017 financial results.Q2 revenue $376.8 million versus I/B/E/S view $368.7 million.Pandora Media Inc - ‍active listeners were 76.0 million at end of q2 of 2017​.Pandora Media Inc qtrly loss per share $1.20.Q2 earnings per share view $-0.24 -- Thomson Reuters I/B/E/S.Pandora Media Inc - ‍total paid subscribers increased from 3.93 million in Q2 2016 to 4.86 million in Q2 2017​.Pandora Media Inc - q2 2017 ad revenue was $278.2 million, growing 5 percent year-over-year.Pandora Media Inc - ‍total listener hours were 5.22 billion for q2 of 2017, compared to 5.66 billion for same period of prior year​.  Full Article

Pandora Media's CEO Tim Westergren to step down
Tuesday, 27 Jun 2017 09:05am EDT 

June 27 (Reuters) - Pandora Media Inc :Pandora announces senior leadership transition and appoints new board member.Says Jason Hirschhorn appointed to the board.Pandora Media Inc - board initiates CEO search following Tim Westergren decision to step down; CFO Naveen Chopra named interim CEO.Pandora Media Inc - company adds Jason Hirschhorn to board of directors.Pandora Media Inc - Westergren will also no longer be a member of Pandora board of directors.Pandora Media Inc- Pandora also announced today it has appointed Jason Hirschhorn to its board, filling a recently vacated seat.With these changes, Westergren will also no longer be a member of Pandora board of directors.Pandora Media Inc - Pandora also announced that President Mike Herring and CMO Nick Bartle are departing company.Pandora Media Inc - Jason Hirschhorn is chief executive officer of Redef Group, a digital content curation company that he founded in 2013.  Full Article

Pandora Media Inc raised $172.5 million in equity financing
Friday, 23 Jun 2017 05:35pm EDT 

June 23 (Reuters) - Pandora Media Inc ::Pandora Media Inc raised $172.5 million in equity financing from a total offering of $480 million .  Full Article

Corvex's Meister on Pandora-Sirius deal says deal is a new opportunity for Pandora - CNBC
Friday, 9 Jun 2017 12:23pm EDT 

June 9 (Reuters) - :Corvex's Keith Meister on Pandora-Sirius deal says deal is a new opportunity for Pandora - CNBC.Corvex's Keith Meister says Pandora is worth a lot more as a result of the transaction - CNBC.  Full Article

Pandora says Eventbrite to buy Ticketfly business for $200 mln
Friday, 9 Jun 2017 09:00am EDT 

June 9 (Reuters) - Pandora Media Inc :Pandora strengthens balance sheet and sharpens focus on core priorities.Pandora Media Inc says announces strategic investment from siriusxm and sale of Ticketfly strategic review complete.Pandora Media Inc - ‍its sale of Ticketfly to eventbrite for $200 million​.Pandora Media Inc - ‍company is reiterating and affirming financial guidance provided on Q1 conference call on May 8, 2017​.Pandora Media Inc - reiterated that it expects full-year revenue in range of $1.50 billion to $1.65 billion.Pandora Media Inc - Q2 revenue is expected to be in range of $360 million to $375 million.Pandora -Pandora and Eventbrite expect to enter into a commercial agreement that allows Pandora to substantially broaden scale of its ticketing opportunities.Pandora Media-‍eventbrite to buy pandora's ticketfly business for $200 million, funded through $150 million cash and a $50 million note payable to pandora​.Pandora Media Inc - q2 adjusted ebitda loss is expected to be in range of $65 million to $50 million.Fy2017 revenue view $1.57 billion -- Thomson Reuters I/B/E/S.Q2 revenue view $369.1 million -- Thomson Reuters I/B/E/S.  Full Article

Sirius XM to make $480 mln strategic investment in Pandora
Friday, 9 Jun 2017 08:20am EDT 

June 9 (Reuters) - Sirius XM Holdings Inc :Sirius XM to make $480 million strategic investment in pandora.Sirius XM holdings inc - ‍a subsidiary of siriusxm will purchase an aggregate of $480 million in newly issued series a convertible preferred stock of pandora​.Sirius XM holdings inc says pandora agreed with an affiliate of kohlberg kravis & roberts to terminate their investment agreement announced on may 8, 2017.Series a preferred stock is convertible into common stock at a purchase price of $10.50 per share.Sirius XM -under terms of agreement, a unit of siriusxm will purchase aggregate of $480 million in newly issued series a convertible preferred stock of pandora.Sirius XM holdings inc - ‍through this agreement, siriusxm is making a strategic investment in leading u.s. Provider of ad-supported digital radio​.Sirius XM holdings inc - siriusxm purchased $172.5 million of series a preferred stock upon execution of agreement.Sirius XM - series a preferred stock will represent a stake of 19% of pandora's currently outstanding common stock and a 16% stake on an as-converted basis.When transaction closes, three individuals designated by siriusxm will be named to pandora board of directors.When transaction closes, three individuals designated by siriusxm will be named to the pandora board of directors.Sirius XM holdings inc - series a preferred stock is convertible into common stock at a purchase price of $10.50 per share.  Full Article

Pandora raises $480 million with new investment from Sirius- CNBC reporter
Friday, 9 Jun 2017 08:00am EDT 

June 9 (Reuters) - :Pandora raises $480 million with new investment from Sirius.also sells ticket fly for $200 million- CNBC reporter.  Full Article

BRIEF-Pandora Media says ‍Roger Lynch to receive annual base salary of $650,000

* Pandora Media-‍roger J. Lynch to receive annual base salary of $650,000, to be eligible for annual target bonus equal to 100% of his base salary​