SiriusXM is moving forward with an offer for Pandora and the online radio service is reportedly open to a deal. CNBC reports Pandora will consider selling itself, but discussions with SiriusXM are only in “the first inning.” This follows a report from February 2016 that claimed Pandora was considering a sale and had begun meeting with potential buyers.
Pandora’s shares were up over 10% following the report.
With the rise of on-demand streaming from Spotify and Apple Music, Pandora has struggled to attract and keep users. It’ll soon launch its own on-demand service to better compete with its rivals.
