PRI And PRX Are Merging

Merger

PRX and PUBLIC RADIO INTERNATIONAL are merging, the public radio and podcast companies announced TODAY (8/15).  The two companies will retain their names and programming lineups but will merge management, with PRX CEO KERRI HOFFMAN as CEO and PRI CEO ALISA MILLER as Executive Chairwoman.  The combined company will be based in BOSTON; the merger does not involve any cash considerations and is effective immediately, with completion in the FALL.  The merger was first reported by THE WALL STREET JOURNAL.

WGBH EDUCATIONAL FOUNDATION, owner of News-Talk WGBH-F/BOSTON, owns PRI and is investing $10 million in the merged company for production of new content and establishment of PRX Podcast Garage facilities in new cities like the original in BOSTON.  PRI will continue to produce and distribute "THE WORLD," "THE TAKEAWAY," and other programming, and PRX will maintain its RADIOTOPIA podcast network and its investment in RADIOPUBLIC.

HOFFMAN said, “We believe strong media is anchored in trusted journalism, strengthened by new voices and amplified by innovative technology.  This merger intensifies our focus on helping creative producers and institutions build audience and grow revenue.”

“Our field -- for all its excellence and success, and the passion of its core constituencies -- must respond to a profoundly changing marketplace to meet the heightened needs of the public,” said MILLER. “By approaching PRX, PRI opened the door to the promise of joining together. Working with our stations, producers and partners, we can ensure that public media is a vibrant source of inspiration, fact, and empathy, especially in these complex times.”

“Our support of this bold merger extends WGBH’s commitment to a strong public media system and as a champion of creative collaborations and content production,” said WGBH CEO JON ABBOTT, who will have a seat on the merged company's board. “Both PRI and PRX are innovators, and we know that together they will have a transformative impact at a time when there is tremendous hunger for new ideas and approaches in media.”

ERIK LANGNER of PUBLIC MEDIA COMPANY is facilitating and finalizing the merger.

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