Pandora’s New Path, Following Its Kill Fee

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With the announcement that Sirius XM will be making a $480 million “strategic cash investment” in streaming media company Pandora, the beleaguered company led by founder and CEO Tim Westergren immediately benefited from the deal, which is structured for extended stock purchases by Sirius XM.

However, while millions of dollars are arriving, several million dollars are evaporating, and heading into the hands of KKR.

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