SiriusXM CFO Sees Regulatory OK of Buy of 19% in Pandora
SiriusXM sees no “competitive issues” to block regulatory approval of paying $480 million for 19 percent of Pandora (see 1706090005), Chief Financial Officer David Frear told a Bank of America Merrill Lynch investor conference Friday. “I can't imagine why DOJ…
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would step in the way.” Once the deal closes, under which SiriusXM will land three seats on the Pandora board, including chairman, “there are interesting strategic things that the two companies can do together,” Frear said: Most of the estimated 100 million cars on the road “are connected, and so we could engage them to the extent that there are people in those vehicles using the Pandora app and we could use that as a cross-marketing opportunity, right?”