The Wall Street Journal: Entercom acquires podcast companies Cadence13 and Pineapple Street Media [MarketWatch]
ENTERCOM COMMUNICATIONS (ETM)
Last entercom communications earnings: 2/25 08:00 am
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Source: MarketWatch
Entercom acquires podcast companies Cadence13 and Pineapple Street Media The headline on a previous version of this report provided an inaccurate figure for the total value of the Entercom deal. Entercom Communications Corp. ETM, -42.86% has reached deals for a pair of podcast companies, moving the second-largest U.S. radio broadcaster by revenue more heavily into the nascent business. In the first such deals for the radio giant, Entercom said it would buy Pineapple Street Media and has reached an agreement to buy the 55% of Cadence13 it doesn’t already own. The Pineapple deal is worth $18 million, according to a person familiar with the matter, while the Cadence deal values the company at nearly $50 million, according to a person familiar with that transaction. The deals will give Entercom a presence in several facets of the podcasting business, from production and publishing to distribution and monetization. They come as established media companies are taking more interest in the
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