Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Boeing met with aircraft leasing firms and financiers in New York as the grounding of its popular 737 Max planes drags on with no clear timeline for getting the planes back in...Aerospace & Defenseread more
Both companies report earnings on Aug. 8, so the CBS and Viacom boards have set that as a natural deadline to agree to a merger. Price won't be discussed by the companies...Technologyread more
The Food and Drug Administration "stands ready" to start reviewing e-cigarettes amid a teen vaping "epidemic," acting Commissioner Ned Sharpless said Monday in a statement.Health and Scienceread more
US oil companies on Monday began restoring some of the more than nearly 74% production shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the US offshore drilling...Energyread more
The Guggenheim CIO says he had been approached by the White House about possibly joining the Federal Reserve.The Fedread more
Pandora may be changing its tune.
The music streaming service is now open to selling itself and is now willing to engage with one-time suitor SiriusXM specifically, people familiar with the matter told CNBC. SiriusXM is expected to pursue a deal, the people said.
One person referred to the situation as being "the first inning of the process," and there is no assurance that Pandora will reach a deal with SiriusXM or other potentially-interested parties.
Pandora's board rejected an informal $15-a-share offer from Liberty's CEO Greg Maffei in July, according to the Wall Street Journal on the belief it could get a higher price elsewhere. After trading above $14 in the wake of that report, Pandora shares fell to near $10 a share this month.
Pandora declined to comment, citing a policy against commenting on speculation. Reuters reported Friday that Pandora is making no new effort to sell itself and is focused on executing its strategy and its operating model. It cited an unidentified source.
The company has faced pressure to sell itself from activist investor Corvex Management, a hedge fund run by Keith Meister.
"Despite its many strengths, the company has been unable to date to translate its great product into a great business with an attractive public market valuation," Corvex wrote in a letter earlier this year. The fund controls 9.9 percent of the company's stock directly and through options.
Corvex, along with some other large shareholders, Matrix and Eminence, have now unified around the idea of a sale, expressing their frustration to Pandora's chairman, sources said.
Meanwhile, Liberty's Maffei has been public about the potential benefits of a tie-up between satellite radio company SiriusXM and Pandora.
"We think that the free space, whether it be commercial terrestrial radio, or Pandora, is still a very attractive space," Maffei told CNBC last month. "And we talked about how we'd like to find a way to participate. I think the streaming business, which Pandora seems to have doubled down on, is a very unattractive business. So there are parts of Pandora that could be attractive. And there's parts that we'd have questions about."
It all comes amid fiercer competition in the online streaming space, with Apple, Google and Amazon moving to compete with Pandora and Spotify. Spotify has also reportedly looked to team up with SoundCloud, according to the Financial Times.
Correction: This story was revised to correct the spelling of Eminence.