Entercom Buys Cadence13, Pineapple Street Media

Podcast Deal

ENTERCOM has purchased prominent podcasting companies CADENCE13 and PINEAPPLE STREET MEDIA.

The deal, first reported in the WALL STREET JOURNAL, was announced in a press release WEDNESDAY morning, and the JOURNAL puts the CADENCE13 deal, an agreement in principle at this stage, at almost $50 million; the PINEAPPLE STREET deal has been announced at $18 million. ENTERCOM paid $9.7 million for 45% of CADENCE13 in 2017 and will now own 100% of the company. Both acquisitions will report to Chief Digital Officer J.D. CROWLEY

PINEAPPLE STREET, headed by JENNA WEISS_BERMAN and MAX LINSKY, is a production house that creates original podcasts and branded content, working with partners including GIMLET MEDIA, ESPN, WNYC STUDIOS, NETFLIX, and THE NEW YORK TIMES. CADENCE13 is the former DGital MEDIA. a producer as well as a sales representative for a large roster of shows. ENTERCOM produces and distributes podcasts under its RADIO.COM banner and app.

In the release, the company disclosed that PINEAPPLE STREET MEDIA wil change its name slightly to PINEAPPLE STREET STUDIOS and WEISS-BERMAN and LINSKY will continue as co-heads of the division, reporting to CROWLEY. CADENCE12 CEO SPENCER BROWN will continue to head CADENCE13, also reporting to CROWLEY, while Chief Content Officer CHRIS CORCORAN will remain in charge of content for the division and President JOHN MURPHY will also remain on the leadership team.
 
“Today marks another transformational event at ENTERCOM and we are thrilled to welcome the outstanding teams and content partners at both PINEAPPLE STREET and CADENCE13,” said ENTERCOM Chairman/Pres./CEO DAVID FIELD. “With these important acquisitions, Entercom will stand as a unique leader in the audio universe with both the greatest collection of premium, original local audio content along with arguably the best national podcast content. With RADIO.COM emerging as the fastest growing digital audio app in the country and ENTERCOM Advanced Audio bringing to market a burgeoning set of data, analytics and attribution capabilities, we are well positioned to participate in the exciting audio renaissance and the powerful opportunities to work with our thousands of customers across the country on their increasingly important audio strategies.”
 
“It is an exciting day for all lovers of audio – creators, listeners and advertisers,” said CROWLEY. “The leadership teams at both CADENCE13 and PINEAPPLE STREET MEDIA are the best in the business, and their tenacity, creativity and reputations are unmatched. The collection of leading content brands in the CADENCE13 Podcast Network, coupled with their scale and leadership position with the advertising community, combined with the innovative slate forthcoming from PINEAPPLE STREET STUDIOS will further strengthen RADIO.COM’s position as the premiere destination for live and on-demand audio news, entertainment, music and sports content in the U.S.”
 
“This is an incredibly exciting day for us and our team of podcast producers,” said LINSKY. “We started PINEAPPLE three years ago with the simple goal of making great shows that found huge audiences, and joining forces with the amazing teams at ENTERCOM and CADENCE13 means we can do that at a scale we never imagined.”

“This is an amazing time for podcasting,” said WEISS-BERMAN. “This moment is unprecedented – the energy, the growth, the talent coming to the medium. I am thrilled to be working with the incredible leadership teams at ENTERCOM and CADENCE13.”
 
“Consolidation with ENTERCOM will greatly accelerate the next phase of our growth,” said BROWN, CORCORAN, and MURPHY in the release. “Through its robust portfolio of broadcast radio stations and the RADIO.COM platform, ENTERCOM offers CADENCE access to a national audio platform that will accelerate revenue and development of our audience engagement efforts. This acquisition helps us extend the reach of our partners and build their audiences across the audio landscape.”

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