Pandora sells $150M in preferred stock to KKR to fund shift to on-demand

 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% to 8% quarterly dividend, and KKR’s Richard Sarnoff will take a board seat. Here are the nuts and bolts… Read More

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