Pandora Thinks It Can Be Sold Within 30 Days [REPORT]
[UPDATED] Pandora is actively trying to sell and confident that it can close a deal to close within 30 days, sources familiar with the company's thinking told CNBC. SiriusXM is believed to be the most logical buyer.
This week Pandora reported slowing growth and a deteriorating balance sheet, but was buoyed by a $150 million investment from KKR.
At the same time, the company is aggressively seeking to sell within the next 30 days, according to CNBC.
"If Pandora sells itself within that 30 days, it would have to pay KKR $15 million," sources tell CNBC. "But sources said the company views that money as an insurance policy of sorts that effectively gives the company a 30-day option to sell itself — which it thinks it can do."
MORE: 4 Stats That Should Worry Pandora And Investors
Pandora, market to the new kids. Your site is old and outdated. And don’t reject so much indie artist music.
You can surpass YouTube
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