Liberated Syndication Inc., (“Libsyn” or the “Company”), the industry’s leading podcast hosting platform and advertising marketplace, announced that it has closed its previously announced acquisition of Podcast Ad Reps LLC (“PAR”), a leading podcast advertising company.
“The acquisition of PAR meaningfully accelerates our growth by significantly expanding our inventory for advertisers and adding new critical team members to our organization,” said Libsyn’s CRO Dave Hanley. “By integrating the entire PAR team into AdvertiseCast, we believe we have created the premier destination for creators looking to monetize as well as for brands that recognize the growing importance of effectiveness of podcast advertising.”
PAR and its team members will be combined with Libsyn’s AdvertiseCast business, one of the largest and fastest-growing podcast advertising marketplaces. Rick Selah and Anthony Savelli, PAR’s founders and Co-CEOs, will join AdvertiseCast’s leadership team. PAR serves such top podcasting shows as New Rockstars Inside Marvel, The Official Yellowstone Podcast, Almost 30 Podcast, and Gilbert Gottfried’s Amazing Colossal Podcast. PAR provides AdvertiseCast with more host-read inventory that AdvertiseCast can begin to sell immediately as well as more publishers for AdvertiseCast’s emerging programmatic advertising business.
Mr. Selah and Mr. Savelli commented, “We are excited to partner with Libsyn’s AdvertiseCast to deliver more services to even more creators on this larger platform. The combined business will be at the forefront of this growing industry, and we look forward to helping define the podcast advertising sector in the years ahead.”
Wolfson Partners LLC served as Libsyn’s financial advisor and Faegre Drinker Biddle & Death LLP served as Libsyn’s legal counsel. Randall Greer PLLC served as legal counsel to PAR.