SiriusXM is buying Stitcher for $325 million

SiriusXM, a company most well-known for its satellite radio channels, is buying the podcasting company Stitcher from E.W. Scripps in a deal worth $325 million. The company confirmed the deal today after The Wall Street Journal first reported it last week. The move sets Sirius to compete even more seriously against Spotify, iHeartMedia, and Apple for dominance of the podcasting space.

Stitcher is not only a popular podcasting app with a premium, ad-free subscription service, but it’s also a network that, combined with its other entity Earwolf, produces shows like Conan O’Brien Needs a Friend. Scripps also combined Stitcher with Midroll Media, a podcast ad company that sells ads for other shows like The Dream and Getting Curious with...

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