Radio and audio entertainment giant iHeartMedia has struck a deal with The E.W. Scripps Co. to acquire advertising technology and measurement firm Triton Digital for $230 million, the companies said on Wednesday.
iHeartMedia, which says it is "the no. 1 audio company in America and the no. 1 podcast publisher globally," said the deal will allow it to "provide audio content to producers and advertisers with an industry-leading full ad service package for streaming and podcasting no matter their size, reach or distribution method."
Triton will bring a "vast array of infrastructure and measurement solutions" to the firm that will "complement iHeartMedia’s current advertising technology services, data platforms and programmatic platforms."