With over a quarter of a billion monthly listeners in the U.S., and over 131 million social followers, iHeartMedia has the largest national reach of any radio or television outlet in America. Recently, iHeartMedia announced that it has entered into an agreement to acquire Stuff Media, LLC, the leading for-profit publisher of entertainment and informative podcast content, which includes HowStuffWorks (HSW) podcasting platform.
iHeartRadio, iHeartMedia’s all-in-one digital music, podcast, on demand and streaming radio service, is already partnered with all major publishers and features more than 20,000 podcasts ranging from NPR to WNYC to ESPN and Gimlet, and the iHeartRadio Podcast Network hosts more than 750 iHeartRadio Original shows.
The acquisition will enable iHeartMedia to leverage Stuff Media’s original content, programming, and experienced podcast management team and to further expand its podcasting platform. The Wall Street Journal reported that a value for the deal of $55 million. The transaction is subject to bankruptcy court approval.
Conal Byrne will join iHeartMedia as head of its podcast division. Stuff Media’s podcasts will maintain their branding and remain headquartered in Atlanta, Georgia, with Byrne continuing as President and CEO of that studio as well. Byrne will report to Darren Davis, President of the iHeartMedia Networks Group and iHeartRadio.
Chris Peterson has been promoted to EVP of the podcasting division for iHeartMedia, and will oversee the full slate of iHeartRadio Original podcasts, as well as manage the affiliate relationships for the company, and will report to Byrne.