|SiriusXM agreed 6/9/2017 to buy $480m of convertible preferred stock of Pandora (symbol P)|
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Pandora (NYSE: P), the go-to music source for fans and artists, announced two important transactions at the conclusion of the strategic review the company disclosed on May 8, 2017. Driven by a focus on optimizing shareholder value, the company secured an agreement from SiriusXM to make a $480 million investment in the company and announced its sale of Ticketfly to Eventbrite for $200 million. In combination, these transactions arm the company with a strong balance sheet, sharpen operational focus, and strengthen the company’s board of directors.