Verizon is eyeballing a stake in Pandora Media, per a report by the New York Post on Sunday. They're poised to invest $100M into the online music streaming company.
Right now, Pandora and SiriusXM are in talks, but if this falls through, it's a possibility that Verizon will jump in to invest.
"Top Verizon exec Tim Armstrong could be a candidate for the Pandora board under one possible scenario, according to sources, with one insider noting that the radio giant could benefit greatly from Verizon-owned AOL’s expertise in programmatic, or automated ad serving.
Verizon CEO Lowell McAdam isn’t weighing a full-on Pandora purchase at this stage since he is still busy integrating his acquisition of Yahoo with AOL in the short term, sources said. But Verizon could be interested in data from Pandora’s 80 million, mostly young mobile users." (New York Post)
Neither Verizon nor Pandora have commented either way. Stay tuned for more information as this develops.