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Pandora Buys Ticketfly Live Events Company for $450 Million

  • Deal will make Pandora a rival to Live Nation's Ticketmaster
  • Transaction is a `game-changer' for company: Pandora CEO
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Pandora Media Inc. agreed to acquire online ticketing business Ticketfly Inc. in a deal valued at about $450 million, thrusting Pandora into competition with Live Nation Entertainment Inc.’s Ticketmaster, the industry leader.

The transaction includes about $225 million in cash and 11.6 million of Pandora’s common shares, Pandora, the Internet radio service, said Wednesday in a regulatory filing.