Welcome to Industry Focus, the podcast that dives into a different sector of the stock market every day.

It's Friday, December 9th, and we're talking about how serious is seriously interested in Pandora.

Ooh. I'm your host, Dylanlin Lewis and I'm joined in the studio by

David Kretsman. How's it going? Good to be here man, thanks for having me.

You couldn't contain your excitement with that lead in. That was impressive. Simon

Ericsson would be proud. I was I was

pretty proud of it. When I wrote it I kind of like snickered to myself as I was

writing it up in the editorial pod before. But yeah news came out last week that

serious XM's chairman, Greg Maffey, reached out to Pandora

Media and expressed interest in a potential takeover.

No firm details at the moment, but we've seen some speculation in the market.

I think it kind of lent itself to a pretty fun episode.

I know you and Chris briefly touched on it in Foolery.

We're going to do more of a deep dive this week.

Yeah, looking forward to it.

So today, basically going to run through the history between these two companies, what a deal might look like, and whether it really makes sense.

There's kind of a convoluted structure that might make this look a little bit better upon further exploration that it does at first glance and just serious in Pandora.

So some history between the two companies. Liberty Media, who owns SeriousXM, I think they have

about a two-third stake in that business?

Yeah, 65%. They casually approached Pandora about a deal in the summer and that offer they were

floating around like $15 per share which was roughly 20% up from where the company was at the time.

Pandora's board balked at that offer, kind of believing that the company's value was closer

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