FILE - In this Feb. 22, 2018, file photo, the Pandora logo appears above a trading post on the floor of the New York Stock Exchange. Subscription radio company SiriusXM says it's buying music streaming... (Associated Press) 
 
 FILE - In this Feb. 22, 2018, file photo, the Pandora logo appears above a trading post on the floor of the New York Stock Exchange. Subscription radio company SiriusXM says it's buying music streaming service Pandora Media Inc. in a stock deal valued at about $3.5 billion that'll allow it to expand... (Associated Press) 
 
 FILE - In this Feb. 22, 2018, file photo, the Pandora logo appears above a trading post on the floor of the New York Stock Exchange. Subscription radio company SiriusXM says it's buying music streaming service Pandora Media Inc. in a stock deal valued at about $3.5 billion that'll allow it to expand... (Associated Press) FILE - In this Feb. 22, 2018, file photo, the Pandora logo appears above a trading post on the floor of the New York Stock Exchange. Subscription radio company SiriusXM says it's buying music streaming... (Associated Press) 
 
 NEW YORK (AP) — Subscription radio company SiriusXM says it's buying music streaming service Pandora Media Inc. in a stock deal valued at about $3.5 billion that'll allow it to expand its service beyond cars and into homes and other mobile areas. 
 
 SiriusXM Holdings Inc. has more than 36 million subscribers in North America, while Pandora has more than 70 million monthly active users. 
 
 Pandora stockholders will receive 1.44 newly issued SiriusXM shares for each Pandora share they own. Pandora has a "go-shop" period in which it can solicit other offers from third parties. 
 
 Both companies' boards have approved the transaction, which is expected to close in 2019's first quarter. It still needs approval from Pandora shareholders. 
 
 Shares of Pandora, based in Oakland, California, jumped more than 8 percent in Monday premarket trading. SiriusXM's stock declined 4 percent. ||||| Satellite radio company SiriusXM to buy Pandora for $3.5 billion 11:12 AM ET Mon, 24 Sept 2018 | 01:00 
 
 Satellite radio company SiriusXM plans to acquire music streaming service Pandora in a $3.5 billion all-stock deal unveiled Monday. 
 
 The agreement includes a "go-shop" provision where Pandora "may actively solicit, receive, evaluate and potentially enter negotiations with parties that offer alternative proposals following the execution date of the definitive agreement." 
 
 Acquiring Pandora would make SiriusXM the world's largest audio entertainment company, with over $7 billion in combined revenue expected in 2018. The deal would bring together SiriusXM's 36 million subscribers in North America and Pandora's more than 70 million monthly active users. 
 
 Pandora shares closed trading down 1.2 percent at $8.98 a share, after rising more than 10 percent in premarket trading, while Sirius stock fell 10.3 percent to $6.26 a share. 
 
 Shareholders will receive 1.44 of newly issued SiriusXM shares for each Pandora share they hold, the companies said. The implied Pandora price from this deal is $10.14 a share, or a 13.8 percent premium over a 30-day volume-weighted average price.
– Subscription radio company SiriusXM says it's buying music streaming service Pandora Media Inc. in a stock deal valued at about $3.5 billion that'll allow it to expand its service beyond cars and into homes and other mobile areas. Pandora stockholders will receive 1.44 newly issued SiriusXM shares for each Pandora share they own, the AP reports. Sirius XM Holdings Inc. has more than 36 million subscribers in North America, while Pandora has more than 70 million monthly active users. If the deal goes through, SiriusXM will become the biggest audio-entertainment company in the world, with more than $7 billion in combined revenue expected this year, per CNBC. Pandora has a "go-shop" period in which it can solicit other offers from third parties; one analyst tells CNBC that while he wouldn't rule out a higher bid, he thinks "Apple and Spotify have had a chance to look at Pandora already." Both companies' boards have approved the transaction, which is expected to close in 2019's first quarter. It still needs approval from Pandora shareholders. Shares of Pandora, based in Oakland, Calif., jumped more than 8% in Monday premarket trading; SiriusXM's stock declined 4%. Sirius also recently entered into a partnership with Netflix to launch a comedy channel on Sirius featuring material from comedians who have original content on Netflix; that channel is set to launch in January.