But in a statement, Pandora said that it had extended its deadline to terminate the KKR investment “to explore interest expressed<br />by a strategic investor in making a substantial minority investment in Pandora, in lieu of the KKR investment.”<br />Pandora did not specify a new deadline in its statement, and a spokesman for the company did not respond to a question about it.<br />Pandora Extends Deadline for KKR Deal to Explore Its Options -<br />By BEN SISARIOJUNE 8, 2017<br />The countdown for a possible sale of Pandora Media was extended on Thursday, as the company weighed investments from the private equity firm KKR<br />and an unnamed “strategic investor” that may well be Sirius XM.<br />Pandora, which has struggled to hold on to its position as one of the dominant outlets for streaming music, struck<br />a deal a month ago in which KKR would invest $150 million through a purchase of convertible preferred stock.<br />For Pandora, a new owner or a source of significant new investment may be essential.<br />Early Thursday, Reuters reported that Sirius XM was in discussions with Pandora for<br />a minority investment, after talks for an acquisition failed over the price.
