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Pandora to Buy Rdio Assets for $75 Million to Fuel Expansion

By Tony Seruga

Pandora Media Inc. Logos Ahead Of Earns Figures

Pandora

Photographer: Andrew Harrer/Bloomberg

Latest acquisition provides technology, intellectual property
Company plans to offer on-demand library like Spotify

Pandora Media Inc., the Internet radio pioneer, agreed to buy assets from streaming music service Rdio for $75 million, gaining technology the company will use to expand its pay offerings to compete with Spotify Ltd. and Apple Inc.

Pandora plans to use Rdio’s technology and intellectual property to create multiple paid plans in addition to the world’s largest free, online radio service, Chief Executive Officer Brian McAndrews said in an interview. Pandora, which already sells an ad-free version for $3.99 a month, will offer customers access to an on-demand library akin to Spotify’s, McAndrews said…

Pandora to Buy Rdio Assets for $75 Million to Fuel Expansion

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