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Pandora Media Inc (P.N)

P.N on New York Stock Exchange

9.63USD
28 Jul 2017
Change (% chg)

$-0.02 (-0.21%)
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$9.65
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Latest Key Developments (Source: Significant Developments)

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

KKR, Pandora agree to brief extension of pre-closing period related to KKR investment
Thursday, 8 Jun 2017 09:11am EDT 

June 8 (Reuters) - Pandora Media Inc ::Statement from Pandora regarding KKR agreement.Pandora Media - KKR, Pandora agreed to brief extension of pre-closing period related to KKR investment.Pandora Media -if Pandora determines KKR investment continues to be in best interest, KKR investment will close immediately following expiry of extended period.Pandora Media - KKR, co agreed to extension of co's termination right to enable it to explore interest by an investor in making minority investment in co.  Full Article

Pandora is confident of deal within 30 days- CNBC, citing sources
Tuesday, 9 May 2017 11:48am EDT 

May 9 (Reuters) - :Pandora is confident of deal within 30 days- CNBC, citing sources.  Full Article

Pandora announces new governance measures and confirms ongoing strategic review
Monday, 8 May 2017 04:59pm EDT 

May 8 (Reuters) - Pandora Media Inc ::Pandora announces new governance measures and confirms ongoing strategic review.Says James M. P. Feuille and Peter Gotcher will resign from board of directors.At 2017 annual meeting of stockholders, board will recommend that stockholders approve resolution to declassify board and provide for annual election of directors in future..At 2017 annual meeting of stockholders, board will recommend that stockholders approve resolution to declassify board.Pandora Media - board is forming independent committee, to be chaired by Timothy Leiweke, independent director, to identify and appoint new directors.Pandora media inc says Centerview Partners Llc and Morgan Stanley will continue to advise board regarding ongoing review of strategic alternatives.Pandora Media - "positioned company to evaluate any potential strategic alternatives, including a sale, in 30 days before financing is set to close".  Full Article

Pandora announces $150 million investment by KKR
Monday, 8 May 2017 04:57pm EDT 

May 8 (Reuters) - Pandora Media Inc ::Pandora announces $150 million investment by kkr.KKR's Richard Sarnoff to join Pandora board.Pandora media inc- offering may be upsized to a total of $250 million should company determine to issue additional shares.Pandora Media - under terms of investment, KKR will purchase an aggregate of $150 million in a new designated series a convertible preferred stock of co.Pandora Media - the series a preferred stock is convertible into common stock, cash or a combination thereof at a conversion price of $13.50 per share.Investment is being made by KKR through its sponsored investment funds.  Full Article

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As downloaded music fades away, Apple discontinues older iPods

Apple Inc said Thursday that it will discontinue the iPod Shuffle and iPod Nano, the last two music players in the company's lineup that cannot play songs from Apple Music, its streaming service that competes with Spotify and Pandora Media Inc .