(Reuters) – IHeartMedia Inc has agreed to buy E.W. Scripps Co’s Triton Digital for $230 million, giving the U.S. radio company access to audio advertising technology as it focuses on its podcast business, the Wall Street Journal reported https://www.wsj.com/articles/iheartmedia-to-acquire-triton-digital-from-scripps-11613563201?mod=latest_headlines on Wednesday.
Both, iHeartMedia and E.W. Scripps did not immediately respond to Reuters’ requests for comment.
The San Antonio, Texas-based iHeartMedia has been investing in its podcast platform, which competes with Apple Inc and Spotify Technology SA
In 2018, iHeartMedia bought Stuff Media LLC, owner of the “Stuff you should know” program that is deemed the first podcast ever to reach the mark of 500 million downloads on Apple Podcasts.
(Reporting by Akanksha Rana in Bengaluru; Editing by Anil D’Silva)
