Pandora Media, the largest Internet radio service, has become the target of an activist shareholder who is urging the company to renew plans to sell itself. Corvex Management, a hedge fund managed by Keith Meister, has taken a 9.9 percent stake in Pandora by acquiring 22.7 million shares and share equivalents, making it the largest shareholder, according to a regulatory filing on Monday.
Source: Activist Pushes Pandora to Put Itself Back on the Block – The New York Times