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MarketWatch First Take: New Pandora Media CEO good match for struggling music service

Pandora Media Inc.’s new chief executive, Roger Lynch, the founding CEO of Sling TV — a successful subscription streaming-television company — seems a good fit for the struggling internet radio pioneer, and investors hoping for a new strategy breathed a sigh of relief Monday.

Shares of Pandora P, -0.12% jumped nearly 3% in after-hours trading on the news of Lynch’s appointment, which removed some uncertainty from the stock. In contrast, the S&P 500 SPX, +1.00% closed up 1% during regular trading.

Pandora has been without a permanent CEO since founder and CEO Tim Westergren stepped down in June, under pressure to resign after Sirius XM Holdings SIRI, +1.08% — which is controlled by Liberty Media Corp.

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