SiriusXM To Acquire Stitcher

SiriusXM has entered into an agreement with The E.W. Scripps Company to acquire podcast leader Stitcher. The transaction will advance and deepen SiriusXM’s position in podcasting, the fastest-growing sector in the audio entertainment world. Top Stitcher podcasts include Freakonomics Radio, My Favorite Murder, How Did This Get Made?, SuperSoul Sunday from The Oprah Winfrey Network, Office Ladies, Conan O’Brien Needs a Friend, Literally! with Rob Lowe, LeVar Burton Reads, Comedy Bang! Bang!, and WTF with Marc Maron.

With the acquisition, SiriusXM’s combined properties will contain the largest addressable audience in the U.S. across all categories of digital audio including music, sports, talk, and podcasts. The transaction will also further extend SiriusXM’s reach in the digital audio ad marketplace. The SiriusXM and Pandora owned-and-operated digital platforms, combined with the company’s exclusive ad sales arrangement with SoundCloud for the U.S., and the Stitcher and Midroll networks that are subject to the agreement, will reach over 150 million listeners.

Stitcher creates original podcasts, operates multiple content networks that each target a specific genre and audience, and provides podcast ad agency services for leading shows. Through its Midroll Media ad network, Stitcher acts as a sales and marketing representative to connect advertisers and podcasts based on the desired target audience. Stitcher also owns and operates an app listening platform where consumers can stream the latest podcasts and entertainment shows on-demand and free of charge.

“The addition of Stitcher is an important next step as we continue to develop and strengthen our offering in the fast-growing podcasting market,” said Jim Meyer, Chief Executive Officer of SiriusXM. “With Stitcher, we will expand our digital audio advertising presence and look to generate new ways for creators to find and connect with their audiences. Stitcher has a talented team with deep experience in the podcast space, and we look forward to working with them to better meet the needs of creators, advertisers, and listeners.”