NEW YORK, NY / ACCESSWIRE / May 18, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Pandora Media, Inc. (NYSE: P), an online music streaming service and music discovery platform.

On May 8, 2017, the company announced a $150 million investment from private equity firm KKR who will receive Series A convertible preferred stock. As part of the deal, KKR's Richard Sarnoff will join Pandora's board of directors. The investment is intended to strengthen the company's balance sheet, and Pandora CFO Naveen Chopra noted that it gives the company the ability to accelerate growth investments. The deal is expected to close on June 8, 2017. However, the company also announced that despite receiving new financing from KKR, it is still exploring strategic alternatives such as a sale. On May 9, 2017, it was reported that Pandora believes it can complete a transaction within the 30 days prior to the closing of the KKR investment. It should be noted that the company will owe KKR a $15 million break-up fee if the deal falls through.

According to a company filing last week, Stephen A. Cohen, the billionaire hedge-fund manager, has amassed 12,558,792 shares in Pandora, or a 5.4% stake. Importantly, the stake is a so-called "passive" investment, meaning that Cohen can't use those shares to launch a proxy contest, i.e. to challenge the current board of directors.

Pandora Analyst price target, financial review, KKR details, and outlook READ MORE

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The main question is whether Pandora will find a buyer in the next 30 days. Sirius XM Holdings, controlled by Liberty Media, previously made an informal offer for the company at $15 per share but was rejected by Pandora's board. More recently, Liberty CEO Greg Maffei has downplayed merger rumors, although Pandora's ad-sponsored radio service remains an appealing asset due to its relatively low cost structure. As of now, there are no other names linked to an acquisition.

Without a sale, Pandora will attempt to grow revenue while controlling marketing and other costs. The new $150 million financing package from KKR should give the company additional flexibility to do just that. However, it remains unclear whether there are sufficient growth opportunities in the already crowded streaming services market.

Will Pandora find a buyer in the next 30 days? What is the companies potential value? READ MORE

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