Rdio to File Chapter 11, Pandora to Acquire Assets


PandoraRdio, Inc.Pandora has signed an agreement to buy the technology and IP assets of streamer Rdio for $75M in cash.

But the deal hinges on Rdio filing for Chapter 11 bankruptcy is the U.S. Bankruptcy Court for the Northern District of California, according to an 8-k filing with the Securities and Exchange Commission.

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