Pandora

The deal for the satellite radio giant to take over Pandora is expected to close in the first quarter of 2019. Last year, SiriusXM invested $480 million in Pandora.

After more than 17 years with the company, Westergren announced he would be stepping down as CEO and exiting the company's board.

A month after Pandora drew a private equity lifeline, the company gets a more sizable infusion from a company that's long coveted the digital radio pioneer.

The Internet radio (and now on-demand streaming) service has $150 million coming from a private equity firm, as long as nobody wants to buy it for a fair price.