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Pandora buys out Bankrupt Rdio

Tuesday 17 November, 2015

Pandora is paying $75 million dollars to buy out Rdio assets, including technology and intellectual property, in the fall out from of the company's bankruptcy.

The music streaming market has become crowded with options and companies are fighting for subscriptions and listeners.

The Wall Street Journal yesterday reported that Rdio is seeking chapter 11 bankruptcy protection and shutting down because “the planned sale to Pandora is contingent on such a filing.”

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