Rdio shutting down, and Pandora will buy its technology
Streaming music service Rdio is planning to shut down and sell "key assets" to Pandora. Pandora announced the pending acquisition today, saying it will spend $75 million to buy "technology and intellectual property from Rdio" and hire "many members of Rdio's team." Pandora is not buying the full company. But using Rdio technology and staff, the buyer "expects to offer an expanded Pandora listening experience by late 2016, pending its ability to obtain proper licenses."