Sirius XM buys streaming giant Pandora for $3.5 billion in shares

Subscription radio company SiriusXM says it's buying music streaming service Pandora Media in a stock deal valued at about $3.5 billion that will allow it to expand its service beyond cars and into homes and other mobile areas. (AP)
Updated 24 September 2018
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Sirius XM buys streaming giant Pandora for $3.5 billion in shares

  • Sirius XM charges users monthly subscription fees while Pandora offers free music streaming
  • The transaction is being carried out entirely through an exchange of shares

WASHINGTON: Sirius XM, which dominates satellite radio in the United States, announced Monday it is buying music streaming giant Pandora for $3.5 billion.
The transaction is being carried out entirely through an exchange of shares, the company said in a statement.
Sirius XM, a leader in subscription radio in the United States serving mainly motorists with dozens of music and news programs, sees the acquisition as an opportunity “to significantly expand its presence beyond vehicles into the home and other mobile areas,” it said.
Sirius XM charges users monthly subscription fees while Pandora offers free music streaming with advertisements or monthly ad-free paid subscriptions for $4.99 and $9.99.


Arab media union discusses cooperation at Tunis gathering

Members of the Arab States Broadcasting Union meet at its headquarters in Tunis on Saturday. (SPA)
Updated 08 December 2018
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Arab media union discusses cooperation at Tunis gathering

  • The ASBU provides important services to members such as engineering and consulting services

JEDDAH: The executive council of the Arab States Broadcasting Union (ASBU) met on Saturday in Tunis to discuss media-related issues in the Arab world and to come up with suggestions to boost cooperation.

The ASBU provides important services to members such as engineering and consulting services, exchange of radio and television news and programs.

In early 2009, the ASBU officially launched its Multimedia Exchange Network Over Satellite MENOS. As a first of its kind, the MENOS network enables new business models and creates opportunities for its members as well as the Arab region’s potential users.

Last year, it published a book titled “The New Media Age” which addresses the issues of media and information in the digital era, and its different and advanced users.