Internet radio platform Pandora is spending $75 million to acquire "several key assets" from music streaming company Rdio. The assets include technology and intellectual property from Rdio, but not the operating business of Rdio. Many staff members of Rdio who will be offered roles with Pandora.

The transaction is contingent is contingent upon Rdio seeking protection in the United States Bankruptcy Court for the Northern District of California and subject to the approval of the Bankruptcy Court, which will supervise ...