"These guys have a great nose for making money," Meister emphasized.
Meanwhile, Malone and Maffei are both "prudent operators" with an impressive execution history, Meister added.
Pandora's balance sheet now contains around $700 million in incremental cash, which creates a "new opportunity for the new Pandora 2.0." Although the company does have a poor track record of execution, Malone and Maffei will be keeping a closer eye on their investment as Sirius has been granted three of Pandora's nine board seats, including the chairman's title.
Related Links: SiriusXM And Pandora Reportedly In Talks; SunTrust Considers Potential Deal Statistics Show Music Streaming Is Now Too Big To Fail...For The Music Industry© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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