iHeartMedia Buys Audio Streaming Company for $230 Million

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IHEARTMEDIA, THE #1 PODCAST PUBLISHER, TO ACQUIRE TRITON DIGITAL

Acquisition establishes iHeartMedia as the only company to provide a complete set of Advertising Technologies and Measurement solutions for all forms of Audio Media  

Acquisition Further Expands iHeartMedia’s Industry Leading Data and Measurement Capabilities, Programmatic Platform, Self Service Platform for Small Businesses and Podcast Capabilities

iHeartMedia (NASDAQ: IHRT), the No. 1 audio company in America and the No. 1 podcast publisher globally, today announced it has entered into an agreement with The E.W. Scripps Company (NASDAQ: SSP) to acquire Triton Digital®, the global technology and services leader to the digital audio and podcast industry, for $230 million, subject to certain adjustments.* With this acquisition, iHeartMedia will now be able to provide audio content to producers and advertisers with an industry-leading full ad service package for streaming and podcasting no matter their size, reach or distribution method.

The addition of Triton Digital’s vast array of infrastructure and measurement solutions will complement iHeartMedia’s current advertising technology services, data platforms and programmatic platforms while providing additional solutions for those in the digital radio industry, allowing iHeartMedia to be the first and only company in the audio market to provide four distribution methods for audio, including on-demand, broadcast and digital streaming radio and podcasting, and to service all audio assets programmatically.

The acquisition of Triton Digital is the latest of iHeartMedia’s investments in the audio technology space, and further enhances its position as the leader in audio. Most recently, in October 2020, iHeartMedia acquired Voxnest, the leading marketplace for podcasts and provider of podcast analytics, enterprise publishing tools, programmatic integration and targeted ad serving. Over the past two and a half years, the company has also acquired Jelli Inc, the pioneering technology that offers marketers a digital-compatible buying platform for broadcast radio that includes programmatic buying, data targeting and creative optimization; Radiojar, the centralized, cloud-based audio playout platform, through iHeartMedia, Inc.’s subsidiary RCS; and Unified, the leading social advertising data intelligence platform and solutions provider.

“Adding Triton Digital and its industry leading services to the iHeartMedia audio ecosystem establishes iHeartMedia as the only company with a total audio advertising technology and data solution,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc.  “iHeart, with our strong leadership position in podcasting, digital radio and broadcast, already provides cutting edge audio management, programmatic and data solutions for the broadcast radio, digital audio and podcasting industries, and this acquisition further strengthens our position as the No. 1 audio company in America and provides unique — and critical — solutions for the industry and for advertisers.”

Operating in more than 50 countries, Triton Digital is a global Advertising Technology SaaS platform for audio streaming, podcasting and metrics that enables publishers to monetize their audiences by providing a highly respected digital audio measurement and advanced audio-focused infrastructure to maximize the yield of audio inventory. The company’s two lines of business focus on advertising infrastructure and measurement, including a content delivery system that distributes digital audio streams and podcasts to listeners while dynamically inserting ads and measurement business that tracks audience and creates ratings reports.

In addition to measuring audiences for customers, Triton Digital operates the world’s first programmatic marketplace for digital audio programmatic ad-buying and Yield-Op, a world-class Supply Side Platform (SSP) that specializes in Audio and enables programmatic audio advertising.

“We are thrilled to join the iHeartMedia family,” said Neal Schore, CEO of Triton Digital. “We remain deeply committed to providing the world’s broadcasters, podcasters, and online audio publishers with continuously innovated, best-in-class solutions and services for online audio management, advertising, and consumption data, and are well positioned to enhance iHeartMedia’s value proposition to audiences and advertisers.”

 *The consummation of the proposed acquisition is subject to the satisfaction or waiver of customary closing conditions, including regulatory approval.

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