MediaFile

TodayInMusic: Pandora adds Chernin and ex-Netflix CFO to board

February 4, 2011

Pandora_Tim Westergren11Pandora, the popular Internet radio service, has expanded its board membership with two heavyweights of the media world: former News Corp no.2 Peter Chernin and former Netflix CFO Barry McCarthy.

The news will naturally stoke speculation that an IPO is indeed round the corner. Reuters reported last month that the company has met with bankers to discuss a $100 million public offering.

Chernin, wh0 left News Corp in early 2009, now runs his own business in Hollywood called The Chernin Group and Chernin Entertainment investing in media, entertainment and technology businesses.

McCarthy stepped down from Netflix in December after 12 years but has some background in the music business with a previous role at Music Choice.

A Pandora spokeswoman declined to confirm if either Chernin or McCarthy has made a personal investment in the business. To date the company has raised about $56.3 million according to various venture data sources.

Pandora founder Tim Westergren (pictured) says in a statement the company’s “very fortunate” to get these two names. He had a nice Q&A with us last month here.

(Photo: courtesy Pandora)

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