Stingray Group Inc. have announced it has entered into a definitive agreement to acquire live audio streaming pioneer TuneIn Holdings, Inc., in a transaction valued at up to $175 million. The deal underscores Stingray’s push to expand its digital audio footprint and strengthen its advertising offerings.
Under the agreement, Stingray will pay $150 million at closing. Plus an additional $25 million 12 months after closing, contingent on performance. The acquisition will be financed in part by a $150 million term loan under Stingray’s renewed credit facility.
The transaction is subject to TuneIn shareholder approval, regulatory clearance, and customary closing conditions, with completion expected by year-end 2025.
The acquisition is poised to combine Stingray’s extensive music and video distribution infrastructure with TuneIn’s robust platform. Which reaches more than 75 million active listeners monthly. TuneIn offers access to over 100,000 radio stations, podcasts, music channels, news, sports, and audiobooks across more than 200 platforms and connected devices. Including more than 50 in-car audio systems in over 100 countries.
“This acquisition marks a pivotal moment in Stingray’s journey to further strengthen its position as a global leader in audio entertainment and digital advertising sales,” said Eric Boyko, Stingray’s president, co-founder, and CEO. “We are crafting an unmatched audio ecosystem by merging Stingray’s technology and content distribution capabilities with TuneIn’s expertise in monetization, advertising technology, and diverse content offerings.”
Boyko highlighted the deal’s potential in the automotive sector, where both companies have strong existing integrations.
“This aligns perfectly with our strategy to meet listeners wherever they are — at home, in the car, or at retail locations,” he said. “Together, we are poised to redefine audio for a connected world, delivering extraordinary value to our listeners, content partners, and advertisers.”
The transaction will provide advertisers access to a highly engaged global audience while broadening Stingray’s digital audio advertising platform. Analysts expect the combined entity to surpass $400 million in pro forma revenue. Solidifying Stingray’s role as a key player in the growing digital audio advertising market.
Richard Stern, co-chairman and CEO of TuneIn, said the partnership will accelerate the company’s growth. “Stingray is the ideal partner to propel TuneIn’s next chapter,” Stern said. “Our global reach and advanced advertising capabilities, combined with Stingray’s audio and video distribution, create a significant growth opportunity. Joining forces allows us to deliver the world’s best audio content to listeners everywhere while providing new avenues for advertisers.”
Following the acquisition, TuneIn will continue to operate under its existing brand. Maintaining its presence as a leading platform for live and on-demand audio.
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