Sirius to Buy Scripps Podcast Unit for at Least $265 Million

Sirius XM Holdings Inc. said it has agreed to buy E.W. Scripps Co.’s Stitcher Inc. podcasting unit for $265 million in cash.

The satellite-radio giant’s foray into the rapidly growing podcasting industry follows similar moves by media and technology companies, including Spotify Technology SA and iHeartMedia Inc. Sirius said it could pay up to $60 million more if Stitcher achieves certain financial metrics in 2020 and 2021.


Source link Tech

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