Satellite radio giant Sirius XM announced today. It's acquiring Oakland based Pandora cake Sonia. Hudson reports. This all-stock deal is valued at three point five billion dollars in a joint statement, Sirius XM and Pandora officials said the aquisition creates the world's largest audio entertainment company. The statement also said leveraging Sirius' subscription based service with pen Dora's ad based system will help drive growth for anyone paying attention to the two companies this move shouldn't come as a surprise more than a year ago, Sirius XM invested four hundred and eighty million dollars into Pandora that allowed the company to pick three members of Pandora's board of directors. The acquisition deal is expected to close in two thousand nineteen and still needs to be reviewed by antitrust regulators. There's no word yet on whether the company will stay in Oakland, or if current employees will be