iHeartMedia prepares to purchase podcasting huge HowStuff Functions

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iHeartMedia is seeking to increase its podcast network by purchasing the business behind popular programs like Stuff You Should Know and Atlanta Monster.

The United States radio broadcaster on Thursday stated it has actually accepted get Stuff Media, that includes the HowStuff Functions podcasting company and other premium podcasts. Financial regards to the offer weren’t divulged, however The Wall Street Journal is reporting a worth for the offer of $55 million.

The relocation comes as iHeart wants to increase its podcast department.

“While podcasting has already experienced tremendous growth, the real opportunity to bring the full potential of podcasts to the mainstream still lies ahead,” stated Bob Pittman, chairman and CEO of iHeartMedia, in a release. “Stuff Media is the original trailblazer of the podcasting industry, and we’ve been impressed by its ability to grow a massive, loyal audience over the past decade, led by a strong, experienced and cohesive management team, who we welcome to iHeartMedia.”

Stuff Media’s CEO and president, Conal Byrne, will work as the head of iHeartMedia’s podcast department.

Stuff Media’s podcasts will keep their own brand name and continue to be headquartered inAtlanta HowStuff Functions has actually been making podcasts for more than 10 years and has actually discovered success with numerous popular programs, consisting of Stuff You Should Know, Stuff You Missed in History Class, TechStuff and BrainStuff

Stuff Media likewise just recently partnered with iHeartMedia on the real criminal activity podcast AtlantaMonster iHeartMedia owns more than 800 broadcast radio stations in the United States, and provides podcasts, on-demand radio and live streaming by means of it’s digital music service iHeartRadio.

Update, 12: 35 p.m. PT: Adds background on iHeartMedia