Boosting its growing list of digital assets, E.W. Scripps has bought the podcasting app Stitcher, which streams more than 65,000 titles, for $4.5 million cash.
The free app has roughly 8 million registered users and is available in 50 car models. Stitcher’s backend technology and user experience facilitate new content discovery, one of podcasting’s biggest challenges, Scripps said.
Stitcher will operate under the Midroll Media, the podcasting company Scripps bought in July 2015.
Scripps bought Stitcher from French music streaming service Deezer. Its 12-person staff will join Midroll and operate out of San Francisco.
“The Stitcher brand is recognized to be an early mover and innovator in on-demand audio, especially with connected cars,” said Adam Symson, chief digital officer for Scripps. “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.”
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