Sirius XM Holdings Inc. (NASDAQ: SIRI), an audio entertainment company, completed its acquisition of podcasting company Stitcher.
The amount of the deal was not disclosed.
With this acquisition, SiriusXM adds Stitcher to its audio entertainment platform alongside Pandora, Simplecast and AdsWizz. By combining Stitcher’s programming and advertising networks with SiriusXM’s existing suite of hosting and ad technology tools, the company expands its position in digital audio advertising while generating new ways for creators to find and connect with a broader audience.
Erik Diehn, CEO of Stitcher, will report directly to Scott Greenstein, President and Chief Content Officer of SiriusXM, who also oversees content at Pandora. To help advertisers reach their customers across the largest digital audio ecosystem, Sarah van Mosel, Stitcher’s Chief Revenue Officer, will report directly to John Trimble, Chief Advertising Revenue Officer of SiriusXM.
Led by Jim Meyer, Chief Executive Officer, SiriusXM is an audio entertainment company and the premier programmer and platform for subscription and digital advertising-supported audio products. Pandora, a subsidiary of SiriusXM, is an ad-supported audio entertainment streaming service. SiriusXM and Pandora’s properties reach more than 150 million listeners, across all categories of digital audio – music, sports, talk, and podcasts. SiriusXM’s acquisitions of Stitcher and Simplecast, alongside ad tech company AdsWizz, make it a leader in podcast hosting, production, distribution, analytics and monetization. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers.