New Pandora CEO
Internet radio giant Pandora has named the former head of digital advertising company aQuantive, Brian McAndrews, as its new chief executive.
McAndrews replaces outgoing CEO Joe Kennedy immediately.
After working at General Mills and ABC, McAndrews took small Seattle-based digital advertising agency Avenue A and grew it into aQuantive, the digital ad business that Microsoft bought for $6 billion in 2007.
Pandora founder Tim Westergren said McAndrews has a deep understanding of the intersection of technology and advertising, demonstrated during aQuantive’s “meteoric rise.”
McAndrews serves on the boards of the New York Times Co., Grubhub Seamless and AppNexus.
GSN Digital, a provider of online, mobile and social games, announced the launch of its inaugural Game Innovators Scholarship. GSN said an award of $2,500 will go to whomever best demonstrates innovation within the games industry.
It is open to any college student who intends to pursue a career in the games industry, GSN said.
Application deadline is Nov. 1 and information is available online at www.gsn.com/scholarship.
The proposed merger of West Virginia’s MTR Gaming Group and Nevada’s Eldorado Resorts creates opportunity for growth, and executives with both companies told investors they should expect to see the combined company play a role in the consolidation of the gambling industry.
Eldorado and Chester, W.Va.-based MTR plan to create a new company, Eldorado Resorts Inc. If shareholders and regulators approve, the new company will be publicly traded, with Eldorado’s Gary Carano serving as chief executive officer.
The partnership creates “a powerful combination” with a foundation strong enough for the companies to pursue opportunities they couldn’t manage on their own, said Tom Reeg, Eldorado’s senior vice president for strategic development.
In the past, he said, both were limited by size, lack of geographic diversity and balance sheets.
MTR owns Mountaineer Casino Racetrack and Resort in Chester, Presque Isle Downs & Casino in Erie, Pa., and Scioto Downs in Columbus.
Eldorado operates the Eldorado Reno and Silver Legacy, both in Reno, Nev., and Eldorado Shreveport in Louisiana.
New Ducati models
Ducati Motor Holding SpA, the motorbike maker owned by Volkswagen AG, will roll out four new motorcycles next year to attract more high-end buyers.
The new bikes will be “premium products as we’re not looking for low cost and low capacity motorcycles,” Chief Executive Officer Claudio Domenicali said in an interview at the company’s headquarters in Bologna, Italy. “We are targeting a good but sustainable growth.”
The new offerings from Ducati, whose bikes are owned by actors Brad Pitt and Tom Cruise, will include the 899 Panigale, which goes on sale in the U.S. in November with a starting price of $14,995. The new 148-horsepower superbike was unveiled at the International Motor Show in Frankfurt, Germany.
Two additional new models, which “will share the sport value of the brand,” will be shown in Milan in November, the CEO said.
VW, Europe’s biggest automotive group, bought Ducati for $1.14 billion last year to enhance the appeal of the Audi brand. The Ingolstadt, Germany-based division, which runs Ducati, has a target of taking the top spot in luxury auto sales from Bayerische Motoren Werke AG by the end of the decade.
— Beacon Journal wire services