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iHeartMedia has announced it is purchasing Triton Digital. The agreement is with The E.W. Scripps Company to acquire Triton. The price tag: $230 Million.
“Adding Triton Digital and its industry leading services to the iHeartMedia audio ecosystem establishes iHeartMedia as the only company with a total audio advertising technology and data solution,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “iHeart, with our strong leadership position in podcasting, digital radio and broadcast, already provides cutting edge audio management, programmatic and data solutions for the broadcast radio, digital audio and podcasting industries, and this acquisition further strengthens our position as the No. 1 audio company in America and provides unique – and critical – solutions for the industry and for advertisers.”
“We are thrilled to join the iHeartMedia family,” said Neal Schore, CEO of Triton Digital. “We remain deeply committed to providing the world’s broadcasters, podcasters, and online audio publishers with continuously innovated, best-in-class solutions and services for online audio management, advertising, and consumption data, and are well positioned to enhance iHeartMedia’s value proposition to audiences and advertisers.”
“The sale of Triton creates significant value for Scripps’ shareholders and employees, as we close a chapter on our growth of digital audio businesses through a series of successful transactions and a focus on prudent operations, including our core TV business,” said Adam Symson, Scripps president and CEO. “We believe iHeartMedia is a perfect fit for Triton Digital given their focus and position as the leader in audio solutions.”
I think that is supposed to say $230 Million