Scripps Buys Stitcher
June 6, 2016 at 1:46 PM (PT)
THE E.W. SCRIPPS CO. has purchased podcast aggregation and streaming app STITCHER from DEEZER for $4.5 million. STITCHER, whose 12 member team will remain on board with GM/VP of Product TODD PRINGLE remaining in charge of STITCHER's product development team and heading MIDROLL product development as well, will be located in SAN FRANCISCO and be operated as a part of SCRIPPS' MIDROLL MEDIA, the podcast production and advertising sales representative firm it purchased in JULY 2015. DEEZER acquired STITCHER in 2014.
"The STITCHER brand is recognized to be an early mover and innovator in on-demand audio, especially with connected cars," said SCRIPPS Chief Digital Officer ADAM SYMSON. "STITCHER's data-driven technology has made it a leader in podcast discovery and audio distribution, which will complement MIDROLL's leadership in content creation and advertising sales."
"At MIDROLL, we've always been impressed with Stitcher's incredible reach and pioneering work in the audio landscape," said MIDROLL VP of Business Development ERIK DIEHN. "Together, we can accelerate the podcast industry's growth and further our combined mission to connect ever larger audiences with even more great shows."
"Combining MIDROLL's leadership in great audio storytelling and advertising with STITCHER's expertise in product development and technology will accelerate the growth of both companies," said PRINGLE.