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Sirius XM's $3.5 billion Pandora deal is a bet on the future of streaming — here’s how its largest shareholder, 'cable cowboy' John Malone, came to be worth $9 billion

Business Insider Monday, 24 September 2018 ()
Sirius XM's $3.5 billion Pandora deal is a bet on the future of streaming — here’s how its largest shareholder, 'cable cowboy' John Malone, came to be worth $9 billion· *John Malone, controlling owner of Liberty Media, is one the US' richest men with a net worth of about $9.3 billion.*
· *The billionaire began his career as a "cable cowboy" in research & development at Bell Labs*
· *He went on to oversee some of the biggest deals in cable and entertainment, with foray's into sports,...
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News video: Sirius XM Acquires Pandora For $3.5 Billion

▶ Sirius XM Acquires Pandora For $3.5 Billion 00:33

According to Business Insider, Sirius XM has bought Pandora in an all-stock transaction. The deal creates the world's largest audio-entertainment company. It also has an implied price of $10.14 a share and includes a "go-shop" provision.

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