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Pandora Buys Ticketfly; Amazon Prime and Hulu Switch Things Up

10/07/15 2:28 PM EDT
Internet radio and music streaming company Pandora (P) has acquired Ticketfly, a live events technology company for $450 million in cash and stock. The acquisition will give Pandora a boost in the online music wars against rivals Apple Music (AAPL) and Spotify. Ticketfly's technology will allow Pandora to sell event tickets and help its users find live music events. Ticketfly is a competitor to Ticketmaster and works with over 1,200 event and music venues in the U.S. Amazon Prime's (AMZN) next big addition may be a TV channel feature, according to reports the video streaming company is considering the introduction of licensed channels and may be working with CBS (CBS) on the new feature. Neither CBS or Amazon have yet commented on the new streaming format. And finally in tech news, Hulu has renewed its programming deal with Viacom (VIA) and will also expand its content offering, adding a host of new shows. Critics on Wall street remain divided as to whether Viacom will benefit from the deal or has shot itself in the foot allowing viewers to be lured away from ad supported pay TV channels.
Stocks in this video: VIAPAMZNAAPLCBS
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