Pandora Media to Pay $75 Million for Assets of Bankrupt Rdio - Twice

Pandora Media to Pay $75 Million for Assets of Bankrupt Rdio

On-demand subscription music service seeks chapter 11 in crowded market Rdio, a struggling competitor to Spotify AB and Apple Music, is seeking chapter 11 bankruptcy protection and shutting down, according to a statement, amid an increasingly crowded subscription-music market. Internet-radio giant Pandora Media Inc.
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Rdio's bankruptcy points to the fragile state of may streaming services avalable through CE products, and their financial problems could intensify as artists and music labels demand higher royalties.

On-demand subscription music service seeks chapter 11 in crowded market Rdio, a struggling competitor to Spotify AB and Apple Music, is seeking chapter 11 bankruptcy protection and shutting down, according to a statement, amid an increasingly crowded subscription-music market. Internet-radio giant Pandora Media Inc.

Read More at The Wall Street Journal

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