Pandora may enlist private equity firm to fund expansion

Pandora Media may team up with a private equity firm in exchange for cash to help expand the business,🌄 The Post has lꦐearned.

The streaming radio stalwart has been in talks with 🐠Providence Equity Partners, Silver Lake and KKR, among others, sources said. Chief Executive Tim Westergren just launched a paid on-demand service and has ambitions to roll i🌠t out beyond North America — but needs cash to pay hefty royalties to music labels.

The conversations might indicate that Pandora has given up on a sale, but sources say that door is still open and talks about a st♈rategic investment are happening in tandem.

꧅Pandora hired Centerview Partners last July to explore its strategic options. A bidder is yet to emerge🧸 — publicly at least. Liberty Media boss Greg Maffei has expressed interest, but at a price below Wednesday’s $11.02 close, down 1.1 percent. Liberty Media owns Sirius XM.

Pandora also has been in talks with label partners about taking an equiꩲty stake. The labels own a collective 10-percent stake in Pandora rival Spotify.

One industry source said the labels are reluctant to se♈e another free music brand take off internationally but want to support a broad spectrum of services.

“There are only so many slots for successful streaming services,” said one music expert, adding that the labels are expecting consolidation in the stre🃏aming space.

“A strategic buyout or 🍌a partnership is inevitable,” the source said.

Another source chided th♔ඣe labels for wanting to be the “only guys who make money.”

Pandora shareholders are expected to vote Friday on the re-election of Westergren and fellow director Tony Vinciquerra to the board. The company has extended the election period in previous we𓆉eks.