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Business News Deals Media
SiriusXM in talks to buy podcasting firm Stitcher
By Chris Cooke | Published on Tuesday 7 July 2020
In its ongoing bid to out-perform Spotify in the “who can buy the most podcasting companies in a year” competition that we are all, surely, following super closely, US satellite broadcaster SiriusXM is now in talks to buy Stitcher, according to the Wall Street Journal.
Seemingly keen to get itself a decent slice of the booming podcast market, Sirius XM recently bought podcast distribution platform Simplecast, which it said it would partner with the advertising network AdsWizz, which it previously acquired in 2018.
Stitcher would bring another aggregator to the fold, as well as a podcast production unit. Oh, and another ad sales business, because Stitcher’s current owner EW Scripps Co previously merged it with Midroll Media, a podcast advertising company.
It’s thought the deal, which the WSJ says would be worth around £300 million, is not yet finalised. But if it crosses the line it would provide another boost for the podcasting ambitions of SiriusXM, which also owns personalised music radio service Pandora, of course.
