Pandora to Buy Rdio for $75 Million
If everything goes according to plan, this will save Rdio from bankruptcy.
On the heels of acquiring Ticketfly, streaming giant Pandora announced that it will purchase streaming platform Rdio for $75 million. As reported by TechCrunch, the deal is dependent on Rdio’s filing of chapter 11 bankruptcy — Rdio pointed out that the company will be shut down if another buyer does not acquire them before bankruptcy filings are completed. Pandora’s CEO Brian McAndrews released a statement this afternoon, sharing: “Whether streaming through radio, on-demand or in-person at live events, Pandora is building the definitive source for fans to discover and celebrate music, wherever and however fans want to hear music, we intend to be their go-to destination.” Learn more about the acquiring here.
