Why SiriusXM Will Pay $325 Million to Acquire Stitcher

”Stitcher has the stats of what people listen to and how long, which is a pretty special kind of data that very few people have,“ Chartable CEO Dave Zohrob tells TheWrap

Satellite radio operator SiriusXM Holdings will pay $325 million to acquire podcast network Stitcher Radio from E.W. Scripps Co. in a deal that bolsters SiriusXM’s slate of podcasting talent and gives it access to valuable advertising technology.

Stitcher operates Midroll Media, a podcast advertising network that connects advertisers to podcasts based on the advertiser’s target audience. Midroll is a valuable addition to SiriusXM’s portfolio because it tracks specific listener information in order to cater ads to them, such as what devices people listen on, how long a person listened to an ad, when they turned it off, or which ads listeners skip.

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Samson Amore

Reporter • samson.amore@thewrap.com • Twitter: @Samsonamore