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Radio Moves and Media Quick Takes


Eight days after news of the affair between GMA3 hosts Amy Robach and T.J. Holmes broke, Robach gave (UK's) DailyMail.com an update on their relationship: 'It's kind of over now.' Robach will reportedly return to the show next week, but Holmes has been suspended 'indefinitely' from the show as ABC management launches an investigation into his affairs with other staff members...


Jim Stewart, co-founder of Stax Records in Memphis, dies at age 92. During an era of racial strife, white musicians and producers worked alongside Black singers, songwriters and instrumentalists to create the “Memphis sound” embodied by Otis Redding, Isaac Hayes, Booker T. and the M.G.s, Carla and Rufus Thomas, The Staple Singers, Wilson Pickett, Sam & Dave, The Bar-Kays and many others...


They're on STRIKE for at least one day! The New York Times Guild, the union that represents more than 1,000 members at The New York Times is asking readers to not engage in any of the paper's online platforms and stand with them on the digital picket line on Thursday, December 8, 2022. The union and newspaper management were not able to reach agreement on a new contract after 20 months of negotiations...


Bomani Jones who appeared on the 'CNN This Morning' show this week now says, "Nothing I’ve said has spread like my Deion Sanders comments on CNN." He adds, “The only thing in my career that I can think of that has gone as viral as this Deion thing has, is the Donald Sterling thing in 2014.” "Coach Prime" Deion Sanders has announced he is leaving Jackson State for Colorado. He will coach JSU in the Celebration Bowl in Atlanta on December 17, 2022 at Mercedes-Benz Stadium.>Read more...


Charlamagne Tha God and DJ Envy announce The Breakfast Club will add rotating guest hosts until a permanent one is named to replace Angela Yee. >Read more...


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September 24, 2018

Sirius XM Buys Pandora for $3.5 Billion


Sirius XM Holdings Inc. (NASDAQ :SIRI ) and Pandora Media, Inc. (NYSE :P ) today announced a definitive agreement under which SiriusXM will acquire Pandora in an all-stock transaction valued at approximately $3.5 billion. The combination creates the world's largest audio entertainment company, with more than $7 billion in expected pro-forma revenue in 2018 and strong, long-term growth opportunities.


This strategic transaction builds on SiriusXM's position as the leader in subscription radio and a critically-acclaimed curator of exclusive audio programming with the addition of the largest U.S. audio streaming platform. Pandora's powerful music platform will enable SiriusXM to significantly expand its presence beyond vehicles into the home and other mobile areas. Following the completion of the transaction, there will be no immediate change in listener offerings.

The combined company will drive long-term growth by:

Capitalizing on cross-promotion opportunities between SiriusXM's base of more than 36 million subscribers across North America and 23 million-plus annual trial listeners and Pandora's more than 70 million monthly active users, which represents the largest digital audio audience in the U.S.
Leveraging SiriusXM's exclusive content and programming with Pandora's ad-supported and subscription tiers to create unique audio packages, while also utilizing SiriusXM's extensive automotive relationships to drive Pandora's in-car distribution.
Continuing investments in content, technology, innovation, and expanded monetization opportunities through both ad-supported and subscription services in and out of the vehicle.
Supporting and strengthening Pandora's highly relevant brand.
Creating a promotional platform for emerging and established artists, curated and personalized in ways to deliver the most compelling audio experience that connects artists to their fan bases, as well as new listeners.

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 in a way that also benefits consumers, artists, and the broader content communities. Together, we will deliver even more of the best content on radio to our passionate and loyal listeners, and attract new listeners, across our two platforms."

Roger Lynch, Chief Executive Officer of Pandora, said, "We've made tremendous progress in our efforts to lead in digital audio. Together with SiriusXM, we're even better positioned to take advantage of the huge opportunities we see in audio entertainment, including growing our advertising business and expanding our subscription offerings. The powerful combination of SiriusXM's content, position in the car, and premium subscription products, along with the biggest audio streaming service in the U.S., will create the world's largest audio entertainment company. This transaction will deliver significant value to our stockholders and will allow them to participate in upside, given SiriusXM's strong brand, financial resources and track record delivering results."


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