It’s official: SiriusXM to buy Stitcher from Scripps
The satellite radio giant will pay $265 million now and $60 million later.
SiriusXM Pandora is a satellite and streaming media company based in New York City. The company operates SiriusXM satellite radio, Pandora and Stitcher and is a major investor in streaming media service SoundCloud. It also owns the podcast production companies Earwolf and Team Coco.
(Source: Company earnings report, updated February 3, 2023)
The satellite radio giant will pay $265 million now and $60 million later.
The checks stem from a federal class action lawsuit over automated robocalls made between 2013 and 2019.
The premium audio giant has made aggressive purchases in recent years as it looks to diversity beyond satellite radio.
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The deal provides SiriusXM a minority stake in SoundCloud and expands on a previous ad partnership between the streaming service and SiriusXM-owned Pandora.