Whoa, this is surprising news: The music streaming site Rdio is filing for bankruptcy protection and handing over key assets to competitor Pandora.
Pandora is paying $75 million in a deal that include Rdio’s tech and intellectual property. From the release:
In addition to acquiring technology and intellectual property from Rdio, many members of Rdio’s team will be offered roles with Pandora, subject to close of the agreement. The company expects to offer an expanded Pandora listening experience by late 2016, pending its ability to obtain proper licenses.
As Variety reports, Pandora gets the best of both worlds in the deal, since it doesn’t allow its users to listen to full albums, which is what services like Apple Music does. The hope—at least for Rdio fans—would be that Pandora would keep Rdio as-is, including preserving its well-designed interface, which has set it apart from other streaming sites.
I’ll update this post soon with more details from Pandora.
[Variety]
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