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Satellite radio company SiriusXM Holdings will acquire Pandora in an all-stock deal valued at $3.5 billion.
Why it matters, per Axios' Sara Fischer: In today's mobile-first digital economy, it makes perfect sense for Sirius to acquire Pandora, which is constantly ranked in the top 15 most-trafficked mobile apps in the U.S., per comScore. This deal will improve Sirius' direct-to-consumer relationship and get it out of the car-listening game and into streaming.