Scripps Closes Stitcher Sale To SiriusXM

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Scripps sold its podcast division to SiriusXM for $325 million. That included $265 million of cash upfront, with an earnout of up to $30 million based on 2020 financial results and paid in 2021 and an earnout of up to $30 million based on 2021 financial results and paid in 2022.

Stitcher includes the Midroll advertising rep firm; owned-and-operated podcast networks including the comedy-focused Earwolf; and the Stitcher podcast listening platform.

Scripps acquired Midroll in 2015 for $55 million and the Stitcher app in 2016 for $4.5 million.

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