Entercom Completes Its Cadence 13 Equity Add


On the same day it presented Q2 2019 results many on Wall Street found disappointing, Entercom Communications shared that it had acquired Brooklyn, N.Y.-based podcast producer Pineapple Street and the outstanding shares of a podcast creator and distributor it has had a 45% stake in since August 2017, when it was known as DGital Media.

That latter transaction has just closed.

As such, Cadence13 is now wholly owned by Entercom, at a cost of $50 million.

The equity deal involved a broker who represented DGital Media/Cadence 13 in the transaction: Richard A. Foreman Associates, a.k.a. RAFAMEDIA.

The additions of Cadence 13 and Pineapple Street give Entercom a strong position in the ever-growing podcast space — something Entercom President/CEO David Field cheered on Twitter on August 7.

Chief Digital Officer J.D. Crowley will oversee Entercom’s new podcasting business.

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