The ENCORE Digital Weekly Magazine is a
CELEBRITYACCESS publication
May 18, 2017 


ADVERTISEMENT
MAIN PAGE
Feature News
Touring News
Business News
Venue News
Label & Publishing News
Legal News
Technology News
Legal News
Awards & Benefits News
Obituaries
Industry Profile
Lefsetz Letter
Artist Snapshot
Vital Signs
International News
Net News


ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

TECHNOLOGY NEWS


Pandora May Sell Ticketfly To Refocus On Streaming
Posted: May 16, 2017
(Hypebot) Pandora is exploring the sale of ticket seller Ticketfly. Purchased for $335 million in 2015, Ticketfly combined with Pandora was touted as a game changer. But given Ticketmaster's dominant position, the pairing has proven to be more good PR than great business.

During a self-imposed 30 day period when everything is on the table, Pandora is considering the sale of its ticketing arm Ticketfly. Acquired in 2015 for $335 million, Ticketfly was more recently valued at $450 million.

Pandora is evaluating every strategic option, including a full or partial sale, in the 30 days before a $150 million cash-infusion for stock deal with KKR closes, board member James M.P. Feuille said in a statement earlier this week.

A Ticketfly sale could help Pandora in several ways. There's the obvious pile of cash if the right buyer can be found. And for some suitors of Pandora's streaming business, it both improves the balance sheet and re-focuses the company on its core mission.

Pandora declined to comment to Bloomberg, who first broke the story.

© 2001-2017 Gen-Den Corporation. All rights reserved.
CelebrityAccessSM and Gen-DenSM are service marks of Gen-Den Corporation.

** ENCORE readers and those that utilize ENCORE features are bound by the ENCORE NEWSLETTER USE AGREEMENT. If you choose not to be bound by this agreement, please discard the e-mail and notify us of your desire to be removed from future mailings. **