SiriusXM and iHeartMedia have held exploratory talks about a potential merger, a new report from Bloomberg suggests.
In the report authored by Ashley Carman, Lucas Shaw, and Michelle F. Davis, talks between the satellite radio and terrestrial radio/digital audio giants have been had.
According to the report, $12 billion in sales is currently held between the two.
iHeartMedia owns more than 850 terrestrial radio stations. Meanwhile, SiriusXM currently has 33 million subscribers, according to its latest financial results.
Additionally, iHeartMedia often ranks as the most successful podcast publisher in the nation in both the Podtrac and Triton Digital rankings.
This would not be the first time talks about a potential merger between the two companies have been held. In 2018, Liberty Media — the parent company to SiriusXM — purchased nearly 40% of iHeart. At one time, it was the largest shareholder of the organization.
However, it sold more than $150 million shares in iHeartMedia in October 2021.
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And they will claim it is for betterment of listeners, iheart headed same place as Cumulus & Audacy unless Sirius rescues it