Pandora Media surges on report it's open to talks with SiriusXM

Shares in online streaming service Pandora Media surged on Friday following a report the company is now open to selling itself.

CNBC cited people familiar with the matter as saying that Pandora has expressed a willingness to engage to long-time suitor, SiriusXM, which is expected to pursue a deal.

One source said it was very early on, and only “the first inning of the process”, with no assurance that Pandora will find interested parties let alone reach a deal.

Back in July, it was reported that Pandora had turned down a $3.4bn offer from SiriusXM owner Liberty Media.

At 1510 GMT, the shares were up 9.3% to $12.56.