Save up to 90% on a Hartford Courant subscription. Click here to sign up now!

Pandora Media, Inc.

Pandora strikes $75M Rdio deal, promises new features

Pandora says it is acquiring technology and intellectual property from Rdio and will add new features to its Internet music streaming service by late next year.

The $75 million cash deal depends on Rdio seeking bankruptcy protection and gaining court approval for the deal. Rdio will wind down its service.

It would be the second big purchase by Pandora following its agreement to buy ticket seller Ticketfly last month for $450 million.

CEO Brian McAndrews said Monday that Pandora wants to redefine itself. It's primarily a U.S. service today known for its Internet radio. McAndrews wants to make it a global operation, add live events and give users more control.