iHeartMedia plans to acquire Voxnest, a podcasting services company that offers advertising, analytics and publishing tools to enterprise clients such as Vanity Fair and Wired, the company announced Friday (Oct. 23). A source with knowledge of the acquisition says iHeartMedia will pay for Voxnest roughly what it paid for Stuff Media, which was reported to be $55 million.
Among Voxnest’s products is “dynamic ad insertion,” meaning it can place ads into podcasts based on factors such as listener demographics, location and interests. Voxnest “will ensure critical mass for the platform and accelerate its growth,” iHeartMedia Chairman and CEO Bob Pittman said in a statement. The Brooklyn-based company, which formed in January 2018 from the merger of Spreaker and BlogTalkRadio, also hosts and distributes podcasts.