<SEC-DOCUMENT>0000930413-19-000292.txt : 20190201
<SEC-HEADER>0000930413-19-000292.hdr.sgml : 20190201
<ACCEPTANCE-DATETIME>20190201165525
ACCESSION NUMBER:		0000930413-19-000292
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190201
FILED AS OF DATE:		20190201
DATE AS OF CHANGE:		20190201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SIRIUS XM HOLDINGS INC.
		CENTRAL INDEX KEY:			0000908937
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO BROADCASTING STATIONS [4832]
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35198
		FILM NUMBER:		19560478

	BUSINESS ADDRESS:	
		STREET 1:		1290 AVENUE OF THE AMERICAS
		STREET 2:		11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10104
		BUSINESS PHONE:		212-584-5100

	MAIL ADDRESS:	
		STREET 1:		1290 AVENUE OF THE AMERICAS
		STREET 2:		11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10104

	FORMER NAME:	
		FORMER CONFORMED NAME:	SIRIUS XM RADIO INC.
		DATE OF NAME CHANGE:	20080805

	FORMER NAME:	
		FORMER CONFORMED NAME:	SIRIUS SATELLITE RADIO INC
		DATE OF NAME CHANGE:	19991228

	FORMER NAME:	
		FORMER CONFORMED NAME:	CD RADIO INC
		DATE OF NAME CHANGE:	19940203

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LIBERTY MEDIA CORPORATION
		CENTRAL INDEX KEY:			0000869614
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35198
		FILM NUMBER:		19560479

	BUSINESS ADDRESS:	
		STREET 1:		8101 EAST PRENTICE AVE SUITE 500
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80111
		BUSINESS PHONE:		3037215400

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sirius XM Radio Inc.
		CENTRAL INDEX KEY:			0001592709
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35198
		FILM NUMBER:		19560480

	BUSINESS ADDRESS:	
		STREET 1:		1221 AVENUE OF THE AMERICAS
		STREET 2:		37TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020
		BUSINESS PHONE:		212-584-5159

	MAIL ADDRESS:	
		STREET 1:		1221 AVENUE OF THE AMERICAS
		STREET 2:		37TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10020

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pandora Media, LLC
		CENTRAL INDEX KEY:			0001230276
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO BROADCASTING STATIONS [4832]
		IRS NUMBER:				943352630
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2100 FRANKLIN STREET
		STREET 2:		SUITE 700
		CITY:			OAKLAND
		STATE:			CA
		ZIP:			94612
		BUSINESS PHONE:		(510) 451-4100

	MAIL ADDRESS:	
		STREET 1:		2100 FRANKLIN STREET
		STREET 2:		SUITE 700
		CITY:			OAKLAND
		STATE:			CA
		ZIP:			94612

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Pandora Media, Inc.
		DATE OF NAME CHANGE:	20110207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PANDORA MEDIA INC
		DATE OF NAME CHANGE:	20051026

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SAVAGE BEAST TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20030501
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2019-02-01</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001230276</issuerCik>
        <issuerName>Pandora Media, LLC</issuerName>
        <issuerTradingSymbol>[P]</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000908937</rptOwnerCik>
            <rptOwnerName>SIRIUS XM HOLDINGS INC.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1290 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2>11TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10104</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000869614</rptOwnerCik>
            <rptOwnerName>LIBERTY MEDIA CORPORATION</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12300 LIBERTY BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001592709</rptOwnerCik>
            <rptOwnerName>Sirius XM Radio Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1290 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2>11TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10104</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series A Convertible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2019-02-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>480000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>48426718</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The number of shares of common stock, having par value of $0.0001 per share (the &quot;Common Stock&quot;), of Pandora Media, Inc. (the &quot;Issuer&quot;) deliverable upon conversion of each share of Series A Convertible Preferred Stock of the Issuer (the &quot;Preferred Stock&quot;), was equal to the then current liquidation value, plus accrued but unpaid dividends, divided by approximately $10.50, subject to customary anti-dilution adjustments. Any conversion of Preferred Stock could be settled by the Issuer, at its option, in shares of Common Stock, cash or any combination thereof. Holders of the Preferred Stock were entitled to a cumulative dividend at the rate of 6.0% per annum, payable quarterly in arrears, if and when declared, which, at the Issuer's option, was payable in cash or added to the liquidation value. Following September 22, 2020, the Issuer could have redeemed the Preferred Stock if certain conditions were met.</footnote>
        <footnote id="F2">On February 1, 2019, Sirius XM Holdings Inc. (&quot;Sirius XM Holdings&quot;) acquired the Issuer pursuant to that certain Agreement and Plan of Merger and Reorganization entered into by and among the Issuer, Sirius XM Holdings, White Oaks Acquisition Corp., a wholly-owned subsidiary of Sirius XM Holdings, Sirius XM Radio Inc., a wholly-owned subsidiary of Sirius XM Holdings (&quot;Sirius XM Radio&quot;), Billboard Holding Company, Inc., a wholly-owned subsidiary of the Issuer, and Billboard Acquisition Sub, Inc., a wholly-owned subsidiary of Billboard Holding Company, Inc., dated as of September 23, 2018 (the &quot;Merger Agreement&quot;). Pursuant to the terms of the Merger Agreement, each outstanding share of Preferred Stock was canceled for no consideration.</footnote>
        <footnote id="F3">Reflects securities directly held by Sirius XM Radio. Sirius XM Holdings is the sole stockholder of Sirius XM Radio. After giving effect to the transactions contemplated by the Merger Agreement, Liberty Media Corporation beneficially owns, directly and indirectly, approximately 67% of the outstanding common stock of Sirius XM Holdings.</footnote>
        <footnote id="F4">Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the Reporting Persons are or were the beneficial owners of any securities reported herein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Patrick L. Donnelly</signatureName>
        <signatureDate>2019-02-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Patrick L. Donnelly</signatureName>
        <signatureDate>2019-02-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Craig Troyer</signatureName>
        <signatureDate>2019-02-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
