Hubbard is acquiring a 30% stake in the podcast service.
Podcast One, thought its Courtside Entertainment Group, will remain in the driver’s seat of the service, which claims a roster of more than 200 programs and 400 million impressions monthly for its advertising clients.
“We could not be more pleased and excited to have the chance to collaborate with Norm Pattiz and Kit Gray,” said Morris. “These great audio mavericks have a vision that we believe in, and are honored to be a part of. Great content always wins, and to make great content available at the convenience of the consumer is a natural evolution and one that our industry is beginning to embrace. It will provide additional options that expand our audience and build the value of our existing assets.”
Added Pattiz, “They say you’re judged by the company that you keep. In that case, my reputation just got a huge boost. I am so looking forward to working with Ginny and her entire team. The accomplishments of the Hubbard family in the broadcasting, content and media worlds speak for themselves. I view this as not only a great deal for both of our companies, but more importantly, for the radio industry as a whole. Embracing all forms of audio distribution, from broadcasting to streaming and on-demand is what will drive radio as a medium, continually growing and on the cutting edge.”