Stitcher acquired by E.W. Scripps in continuing pivot to new media
Podcast streaming app Stitcher has a new owner.
According to a source of the Wall Street Journal, France-based Deezer has sold the platform to E.W. Scripps for $4.5 million cash. Its twelve staff members will continue to do business as an arm of Midroll Media, a podcast advertising network that Scripps acquired in July of last year.
Erik Diehn, Midroll’s vice president of business development, said that with future integration, it can produce better metrics and “help shows grow, and to help find out what audiences want in a way that we could not do before.”
As a company that got its start on print and television, Scripps has been on a buying spree in both old and new media. In the past two years, it merged with television and newspaper company Journal Communications, spun off its newspapers and had picked up humor site Cracked and news aggregator Newsy.