Pandora Acquires Rdio

It was only a matter of time. Pandora announced via press release that the personalized online radio company will acquire key assets from competitor Rdio, which is filing for bankruptcy — including technology, intellectual property, and some personnel — for $75 million. Per the release, “The company expects to offer an expanded Pandora listening experience by late 2016, pending its ability to obtain proper licenses.”

UPDATE: As Pitchfork reports, Rdio have announced that their streaming service will shut down completely on December 22. You can download an archive of your playlists, favorites, and comments on their farewell page here, and read their full statement below.

Rdio is being acquired, and the service is shutting down worldwide on December 22. We’re excited to bring great music experiences to even more listeners in the future as part of the Pandora team.

We’re honored to have connected you with the music you love. We know you want to find a home for that music, so we’re providing ways for you to take it with with you.

Tags: Pandora, Rdio