Siriusxm Holdings Inc. · NASDAQ:SIRI
Siriusxm — Merger or Acquisition (September 2018)
12 slides from Siriusxm's merger presentation, Sep 24, 2018
Slide 1: Announces Merger Agreement with Pandora
Investor Deck | September 24, 2018 Announces Merger Agreement with Pandora SiriusXM Exhibit 99.2
Slide 2: Call Participants
Call Participants Jim Meyer Chief Executive Officer SiriusXM David Frear Chief Financial Officer SiriusXM Roger Lynch Chief Executive Officer Pandora Naveen Chopra Chief Financial Officer Pandora
Slide 3: Important Information
Important Information This communication is being made in respect of the proposed merger transaction involving Sirius XM Holdings Inc. (“Sirius”) and Pandora Media, Inc. (“Pandora”). Sirius intends to file a registration statement on Form S-4 with the SEC, which will include a proxy statement of Pan
Slide 4: Forward Looking Statements
Forward Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the proposed acquisition of Pandora by Sirius and other m
Slide 5: Strategic Rationale
Combination creates the world’s largest audio entertainment company with more than $7B in revenue, a $41B enterprise value, low leverage and strong cash flow Builds on SiriusXM’s position as the leader in subscription radio and critically-acclaimed curation with the addition of the largest U.S. audi
Slide 6: Growth Opportunities
Leveraging SiriusXM’s exclusive content and programming with Pandora’s free ad-supported and subscription tiers to create unique audio packages Utilizing SiriusXM’s extensive automotive relationships to drive Pandora’s in-car distribution Cross-promotion opportunities between SiriusXM’s base of 36M+
Slide 7: Transaction Overview
Pandora stockholders to receive 100% stock consideration at a fixed exchange ratio of 1.44 shares of SiriusXM for each share of Pandora Equivalent to $10.14 per share, representing a 13.8% premium based on the 30- day VWAP of both companies’ shares Transaction valued at approximately $3.5 billion, i
Slide 8: Adding Largest U.S. Audio Streaming Platform
Adding Largest U.S. Audio Streaming Platform 65M ad-supported listeners and 6M subscribers Pandora’s Music Genome provides billions of data points for personalized recommendations Tiered offering of ad-supported, Plus and Premium plans Industry-leading ability to monetize digital audio including est
Slide 9: A Compelling Ecosystem
A Compelling Ecosystem 23M Annual SXM OEM Trials 70M+ Pandora MAUs 36M SiriusXM Subs Conversions Non - Conversions Ups - Sells Churn
Slide 10: Benefits to Pandora Stockholders
Benefits to Pandora Stockholders Builds on Pandora’s strong operational momentum over last year Structure allows shareholder participation in future upside Increase in scale, industry expertise and financial resources to drive growth & innovation Ability to differentiate product and content offering
Slide 11: Benefits to Consumers, Artists & Stockholders
Benefits to Consumers, Artists & Stockholders Stockholders: Artists: Growth and scale to reach more fans Significant & growing royalty stream to artists Extensive user preference data Consumers: Current offerings to remain in place Opportunity for new packages with enhanced features Ability to liste
Slide 12: Q&A
Q&A
Sirius XM Holdings — Merger or Acquisition (September 2018) on 6ix