Now that Spotify is throwing its money around trying to own podcasting, other online audio companies need to act fast. That’s why it’s plausible that Sirius XM is looking to buy Stitcher from its current owner, EW Scripps, to bolster its own spoken word business. The Wall Street Journal reports that a deal between Sirius and Scripps is close, with the fee pegged at around $300 million. For that chunk of change, Sirius would grab a number of podcast with name-brand stars like Conan O’Brien.
Stitcher is probably used to being passed around like the last roast potato at thanksgiving at this point. Deezer bought the company in 2014 as part of its own, not entirely successful mission to get into podcasting. In 2016, Deezer sold it to EW Scripps for $4.5 million, with Scripps mashing Stitcher into its own advertising network, Midroll Media. Four years later, and with a bevy of famous names propping up the service, Scripps can consider a $300 million sale price to be a decent enough profit.