Report: Pandora's On The Block

Shares of Pandora jumped in afternoon trading Thursday, after The New York Timespublished a story saying the digital audio media platform was putting itself on the block.

The paper did not indicate who potential suitors might be, or what kind of price Pandora might fetch, but it said it has retained investment banker Morgan Stanley to field offers.

Based on late afternoon trading at $9.10 a share, Pandora’s market capitalization is nearly $2 billion.

The feeler comes as Pandora faces aggressive competition from Spotify and a new music service from Apple.

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