Sirius XM (SIRI) the monster satellite radio company has purchase Pandora (P) Music and its stock for a 3.5 billion dollar deal yesterday. This merger will include agreements including a “go shop” provision which allows Pandora to actively solicit, evaluate and receive other partnerships if they choose or seek better offers.This SirusXM Pandora Music Deal will make SiriusXM the worlds largest audio entertainment company with a market cap of $7 Billion in combined revenue.
Even George Soros and Soros Fund Management is betting on the new Music Streaming service labeled (Siri, P), he purchased a $56 million dollar or 7.12 million shares stake in Pandora back in June, He has already made back 1.44 of new SiriusXM stock at a price of $10.14 per share. I will be following the Billionaires to say the least.
Pandora and Siriusxm have been battling other streaming companies like apple music and spotify, this merger will be a hue jump ahead of the competition
I purchaed one share of pandora today and plan to slowly invest on the dip going further in the future.
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