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Pandora to buy Rdio’s assets for $75 million; Rdio files for bankruptcy and close service

Global music streaming service Pandora has bought several key assets from its peer Rdio for $75 million in an all cash deal. Pandora will only be acquiring Rdio's technology and talent for furthering its business strategy and will not be taking on Rdio's operations. Rdio has also filed for bankruptcy in in the United States Bankruptcy Court for the Northern District of California. Following approval of the court, Rdio will be winding down its service in all markets including India. Many members of Rdio’s team will be offered roles with Pandora and the company expects to offer an expanded Pandora listening experience by late 2016, it said in a press statement. Note that Pandora is only available in the United States, Australia and New Zealand and Rdio is present in 85 countries and maybe this would allow Pandora to expand rapidly…

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