Pandora declines commenting on sell-off rumors

Standard

Internet radio company Pandora has refused to comment on recent reports that it is looking to get acquired. “We won’t comment on rumors,” said Pandora’s CEO Brian McAndrews during the company’s recent earnings call.

“We will say we’re very confident in our ability to drive significant value to our shareholders,” he added. “We’re focused on working as an independent company.”

The New York Times had recently carried a report that Pandora held internal discussions about a potential sell-off, following which a Reuters report suggested that Yahoo, Hulu, and Amazon could be among the potential buyers.

The rumors came just a few months after it was revealed that Apple Music has significantly dented Pandora’s user-base. For those who aren’t in the know, the company acquired several of Rdio’s key assets after the later filed for bankruptcy last year.

Via | The New York Times | Reuters

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