Pandora said to explore sale of company as losses mount
Its shares jumped by 15 per cent then plunged 7 per cent following its earnings release
Pandora Media, the largest internet radio service, is exploring a sale of the company, according to a person familiar with the matter, as losses pile up and online-music competition mounts from Spotify and Apple.
The company is working with Morgan Stanley to reach out to buyers, said the person, who asked not to be identified discussing a private matter. The talks are preliminary and may not lead to a deal, the person said ...
