Sirius XM Holdings Chairman Greg Maffei recently approached Pandora Media’s board to express renewed interest in a takeover of the Internet radio provider, according to people familiar with the matter, following up on its offer from earlier this year.
Sirius’s latest approach didn’t include a price for Pandora, said one of the people,. Sirius offered about $15 per share to acquire Pandora earlier this year, the person said.
A representative for Pandora declined to comment. A Sirius spokesman couldn’t be reached for comment.
Since Sirius made its first approach, Pandora has taken steps to shake up its business model.
Though Pandora dominates the online radio market it pioneered, the company’s growth has slowed in recent years.
The company made three acquisitions last year to diversify beyond online radio, including ticket seller Ticketfly, and is about to introduce a new on-demand service similar to Spotify.