Pandora Said to Explore Sale; Shares Fall as Losses Pile Up

  • Online radio provider's talks are said to be preliminary
  • Company contending with competition, fees from record labels

Pandora Earnings Miss Estimates, Now Exploring Sale

Pandora Media Inc., the largest Internet radio service, is exploring a possible sale, according to a person familiar with the matter. The shares fell close to an all-time low as some analysts lowered their price targets amid mounting losses and competition from Spotify Ltd. and Apple Inc.

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