It’s Sirius! $3.5B deal for Pandora

Subscription radio company SiriusXM says it's buying music streaming service Pandora Media Inc. in a deal valued at about $3.5 billion that will allow it to expand its service beyond cars and into mobile devices and homes.

Pandora has faced intense pressure from competitors like Spotify and Apple. Its last quarterly profit was in December 2014.

But a buyout by SiriusXM, which made a $480 million investment in Pandora in June 2017, may be the boost the business needs.

The ability to provide a subscription service that gives Pandora customers access to streaming music and satellite radio could help set it apart from its rivals and would likely draw in new customers.