Podcast company Audioboom has confirmed it has hired a company to evaluate potential buyers, and some reports have linked iHeartMedia and FOX as fitting that bill.
Currently, Audioboom holds a market cap of $134 million, and features plenty of partnerships with top shows like True Crime Obsessed and The Tim Dillon Show, among others.
J Goodwin & Co. is currently managing the review process of potential targets and buyers for the company. While Audioboom has shared that it has not had any offers yet, it is looking through alliances and strategic partners for its network that features more than 40 million unique listeners each month around the world. In the August rankings, the company was ranked as the fourth-largest podcast publisher in the nation.
According to a report from Sky News, iHeartMedia and FOX Corp. are some of the more serious targets for acquisition.
It wouldn’t be the first time Audioboom explored a sale. In 2020, it held talks with a variety of companies, but never struck an agreement, calling off the process.
The idea that a sale could be imminent comes on the heels of comments made by the company’s CEO — Stuard Last — last year who said consolidation is likely in the coming years in the podcast medium.
“We can be a leader in the inevitable consolidation of podcasting over the coming years,” he shared. “We believe that our platform will do a great job of allowing any targets that we bring onto it to focus on what they do best, which is content creation, content curation, and running a network platform, by supercharging their distribution, marketing, and monetization of that content.”
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