Pandora to buy ad-tech companies within two months: report
Pandora Media Inc. shares rose 1.7% in Thursday morning trading after a Reuters report indicated that the firm was likely to acquire an advertising-technology company within two months. Pandora's new management team recently admitted that the company needs to make substantial improvements to its ad technology so that marketers can better measure their campaigns and purchase spots on the platform. Pandora has come under pressure as users gravitate toward streaming music services but the company is committed to improving its ad-supported radio product. Shares of Pandora are down 63% so far in 2017, compared with an 18% gain for the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.