SiriusXM


'SiriusXM' Articles

SiriusXM to Acquire Pandora for $3.5 Billion

SiriusXM today announced that it will acquire Pandora for $3.5 billion in an all-stock transaction, creating "the world's largest audio entertainment company," according to Pandora's press release on the news. The transaction has been unanimously approved by both the independent directors of Pandora and by the board of directors of SiriusXM, and is now expected to close in Q1 2019. The companies explain that through the acquisition SiriusXM will use Pandora's platform to "significantly expand" its presence beyond vehicles, and into the user's home and smartphone devices. Still, it's promised that there will be no immediate change in listener offerings after the acquisition is completed. Both CEOs of SiriusXM and Pandora commented on the announcement: Jim Meyer, Chief Executive Officer of SiriusXM, said, "We have long respected Pandora and their team for their popular consumer offering that has attracted a massive audience, and have been impressed by Pandora's strategic progress and stronger execution. We believe there are significant opportunities to create value for both companies' stockholders by combining our complementary businesses. The addition of Pandora diversifies SiriusXM's revenue streams with the U.S.'s largest ad-supported audio offering, broadens our technical capabilities, and represents an exciting next step in our efforts to expand our reach out of the car even further. Through targeted investments, we see significant opportunities to drive innovation that will accelerate growth beyond what would be available to the separate companies, and does so

SiriusXM Launches New App for Apple TV

SiriusXM today announced the launch of a new SiriusXM Radio app for the Apple TV, designed to allow SiriusXM subscribers to listen to more than 200 commercial-free radio channels. The new app is available on the fourth-generation Apple TV and the Apple TV 4K with an interface that has been optimized for the two set-top boxes. SiriusXM Radio for Apple TV offers customizable music and comedy channels, access to a library of archived SiriusXM On Demand content, easy access to preferred channels and shows, and a syncing feature for resuming shows from SiriusXM On Demand across devices. There's also an integrated screen saver for viewing currently playing content."Apple TV is one of the leading and most innovative devices in the burgeoning world of in-home audio and video entertainment. We are excited to bring our extensive programming lineup into homes nationwide with Apple TV," said Jim Cady, SiriusXM's Executive Vice President of Products, Operations & Connected Vehicle.The SiriusXM service offers access to a wide range of music genres, exclusive channels from Howard Stern, live games and events from professional and college sports, news broadcasts, comedy shows, and more. Pricing for access to SiriusXM starts at $10.99 per month for a music package and goes up to $20.99 per month for an all access package that includes access to sports

SiriusXM Again Having 'Active Discussions' to Acquire Pandora

Broadcasting company SiriusXM Satellite Radio is having "active discussions" about the potential acquisition of internet radio company Pandora, after previously showing interest in bidding for Pandora last year. After those talks stalled, The New York Post is now reporting that SiriusXM is reigniting its interest in Pandora, which would grant the company access to Pandora's online radio service and the just-launched on-demand "Premium" streaming service. Pandora Premium itself is the result of the company's acquisition of key assets and employees who worked for Rdio, which Pandora acquired in 2015. The $9.99/month service is a competitor to Apple Music and Spotify, giving listeners access to a large on-demand library, playlist creation, unlimited skips, and no ads, unlike Pandora's base radio service. Pandora's new on-demand service, Pandora Premium Liberty Media-backed SiriusXM is in active discussions about making a bid for internet radio company Pandora, The Post has learned. The New York satellite radio company, which has exhibited on-and-off interest in the struggling streamer, has recently restarted talks with Pandora’s banks and is discussing the size of a potential offer, sources said. According to Goldman Sachs analyst Heath Terry, the music industry is currently focused on the "increasingly competitive environment in streaming music," so SiriusXM might be interested in acquiring Pandora to help beef up its Premium streaming service and compete more directly with Apple Music and Sirius, which are both above 20 million and 50 million paid subscribers,