SIR­IUS IS SE­RI­OUS ABOUT PAN­DORA

The Denver Post - - BUSINESS -

Sir­ius XM Hold­ings chair­man Greg Maf­fei re­cently ap­proached Pan­dora Me­dia’s board to ex­press re­newed in­ter­est in a takeover of the in­ter­net ra­dio provider, ac­cord­ing to peo­ple fa­mil­iar with the mat­ter, fol­low­ing up on its of­fer from ear­lier this year.

Sir­ius’s lat­est ap­proach didn’t in­clude a price for Pan­dora, said one of the peo­ple. Sir­ius — 65 per­cent owned by Den­ver-based Lib­erty Me­dia Corp. — of­fered about $15 per share to ac­quire Pan­dora ear­lier this year, the per­son said.

Pan­dora hasn’t yet re­sponded to the Sir­ius ap­proach, the per­son said. Still, Pan­dora’s ad­vis­ers have be­gun reach­ing out to other po­ten­tial suit­ors, an­other per­son said.

Pan­dora shares rose Fri­day af­ter a CNBC re­port that the com­pany is will­ing to en­gage with Sir­ius. Pan­dora hasn’t said it will restart talks.

Pan­dora made three ac­qui­si­tions last year to di­ver­sify be­yond on­line ra­dio, in­clud­ing ticket seller Tick­et­fly, and is about to in­tro­duce a new ser­vice sim­i­lar to Spo­tify.

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