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May 8, 2017 09:23 pm GMT
Pandora is taking a cash infusion to maintain “a strong balance sheet” as it struggles to shift from radio to the increasingly popular on-demand streaming model. Private equity firm KKR has agreed to buy $150 million in Series A preferred Pandora shares and be paid a 7.5 percent or 8 percent quarterly dividend; KKR’s Richard Sarnoff will take a board seat. Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nFHSQLJBRew/
Pandora will consider buyout before selling $150M in preferred stock to KKR
Pandora is taking a cash infusion to maintain “a strong balance sheet” as it struggles to shift from radio to the increasingly popular on-demand streaming model. Private equity firm KKR has agreed to buy $150 million in Series A preferred Pandora shares and be paid a 7.5 percent or 8 percent quarterly dividend; KKR’s Richard Sarnoff will take a board seat. Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/nFHSQLJBRew/
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