SiriusXM will acquire Pandora for $3.5 billion to create world’s largest audio entertainment company

It's the perfect climate for big deals and it looks like another media company is looking to seize the opportunity. SiriusXM on Monday morning announced that it plans to acquire Pandora in an all-stock transaction that values the company at $3.5 billion. Shares of Pandora were up more than 8% in pre-session trading on the news. SiriusXM said that the deal will create the world's largest audio entertainment company, and that both brands will continue to operate independently.

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