Sirius XM CEO: “We know an awful lot about Pandora”

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Sirius XM held its Q2 earnings call last week, and investors pursued two lines of questioning about Pandora. First as a potential acquisition, thanks to a recent revelation that Liberty Media, parent company of Sirius XM, had made an offer to Pandora. Second as a potential threat to Sirius XM's business. CEO james E. Meyer addressed both points. PLUS, more from the call.

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Pandora rebuffed a purchase offer from Sirius XM’s owner

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Just hours ahead of its second-quarter earnings call, we’ve learned that Pandora has reportedly turned down a proposed bid from Liberty Media. The owner of Sirius XM allegedly floated an offer to buy out the online audio company for $15 per share, valuing Pandora at more than $3.4 billion. Sources are saying that Pandora board rejected the informal bid, citing the price as too low.

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Sirius XM Q4 reports show lower income but spike in revenue

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Sirius XM reported its fourth-quarter financial results. Net income for the period totaled $134.63 million, or 3 cents per share, down 5.9% from income of $143.12 million, or 3 cents per share, in the year-ago quarter. Quarterly revenue increased about 10% on-year to $1.20 billion, surpassing analysts’ expectations of $1.19 billion after a third-quarter revenue total of $1.17 billion.

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