Pandora To Buy Rdio Assets For $75M

What assets does Rdio have that are worth $75 million?

“The transaction is contingent upon Rdio seeking protection in the United States Bankruptcy Court for the Northern District of California. Upon approval of the proposed transaction by the bankruptcy court, Rdio will be winding down the Rdio-branded service in all markets,” Pandora noted in its statement.

Why are they buying something they are going to close? Is it simply a matter of removing your competition by paying $75 million for it?

If so, that kind of shit should be illegal.

I remember Symantec, years ago, invented the "Buy & Shelve" method of dealing with competition.

Steve said:

What assets does Rdio have that are worth $75 million?
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If I had to guess, the value is in a combination of content licensing agreements and customer lists.

TechLarry said:

Why are they buying something they are going to close? Is it simply a matter of removing your competition by paying $75 million for it?

If so, that kind of shit should be illegal.

I remember Symantec, years ago, invented the "Buy & Shelve" method of dealing with competition.

Click to expand...

If it wasn't for Pandora they would have shut down this month as Pandora is at least giving them 8 weeks to wind things down.

They were losing up to $2 million a month, and was looking for a buyer since last year. That's probably is why Pandora stipulated it had to be a chapter 11, 7 likely would allow others to bid on the assets.