iHeartMedia has entered into an agreement with The E.W. Scripps Company to acquire Triton Digital for $230 million. With this acquisition, iHeartMedia “will now be able to provide audio content to producers and advertisers with an industry-leading full ad service package for streaming and podcasting no matter their size, reach or distribution method.”
“Adding Triton Digital and its industry leading services to the iHeartMedia audio ecosystem establishes iHeartMedia as the only company with a total audio advertising technology and data solution,” said Bob Pittman, Chairman/CEO of iHeartMedia. “iHeart, with our strong leadership position in podcasting, digital radio and broadcast, already provides cutting edge audio management, programmatic and data solutions for the broadcast radio, digital audio and podcasting industries, and this acquisition further strengthens our position as the No. 1 audio company in America and provides unique — and critical — solutions for the industry and for advertisers.”
Operating in more than 50 countries, Triton Digital is a global Advertising Technology SaaS platform for audio streaming, podcasting and metrics that enables publishers to monetize their audiences by providing a digital audio measurement and advanced audio-focused infrastructure to maximize the yield of audio inventory. The company’s two lines of business focus on advertising infrastructure and measurement, including a content delivery system that distributes digital audio streams and podcasts to listeners while dynamically inserting ads and measurement business that tracks audience and creates ratings reports.
“We are thrilled to join the iHeartMedia family,” said Neal Schore, CEO of Triton Digital. “We remain deeply committed to providing the world’s broadcasters, podcasters, and online audio publishers with continuously innovated, best-in-class solutions and services for online audio management, advertising, and consumption data, and are well positioned to enhance iHeartMedia’s value proposition to audiences and advertisers.”
The consummation of the proposed acquisition is subject to the satisfaction or waiver of customary closing conditions, including regulatory approval.
