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.”
iHeartMedia chairman and CEO Bob Pittman touted the deal, saying: “Adding Triton Digital and its industry leading services to the iHeartMedia audio ecosystem establishes iHeartMedia as the only company with a total audio advertising technology and data solution.”
Operating in more than 50 countries, Triton is an ad technology platform for audio streaming and podcasting that “enables publishers to monetize their audiences” by offering measurement and infrastructure that helps maximize the yield of ads and operating a programmatic ad marketplace.
Neal Schore, CEO of Triton Digital, said: “We remain deeply committed to providing the world’s broadcasters, podcasters, and online audio publishers with continuously innovated, best-in-class solutions and services for online audio management, advertising, and consumption data, and are well positioned to enhance iHeartMedia’s value proposition to audiences and advertisers.”
This article was originally published by The Hollywood Reporter.