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Triton, purchased for $150 million, is forecast to generate more than $3 million in revenue and more than $1 million in contribution to segment profit for the time Scripps owns it in 2018. It will be immediately accretive to Scripps’ earnings.
“The Triton acquisition aligns with the Scripps strategy of fueling company growth by being opportunistic in the marketplace and responsive to the changing needs of media consumers,” said Adam Symson, Scripps president and CEO.
“By recognizing and capitalizing on the growth of the streaming audio industry, Triton has formed relationships with some of the biggest names in audio and positioned itself as the international leader in this space,” said Laura Tomlin, senior vice president of National Media. “Through this acquisition, Scripps further improves its position in the growing global digital audio marketplace.”
“We are excited to join the Scripps family,” said Triton CEO Neal Schore. “Scripps is an exceptional company, and we look forward to a bright future where we will continue to build, innovate and create world-class products for our clients and the global digital audio industry.”