The E.W. Scripps company has acquired podcast listening service Stitcher for $4.5 million in cash. Stitcher facilitates discovery and streaming for 65,000 podcasts and claims 8 million registered users.
Scripps will use Stitcher to broaden the consumer base and backend tech for Midroll Media, the podcaster Scripps acquired in 2015.
The Stitcher app is on the infotainment system of some 50 car models and also available via free Android and iPhone apps. Scripps Chief Digital Officer Adam Symson says that’s why the Stitcher brand “is recognized to be an early mover and innovator in on-demand audio.”
Founded in 2008, French music streaming service Deezer bought Stitcher in 2014. Stitcher’s 12 employees will operate out of Midroll’s San Francisco office.
Stitcher’s GM/VP of product Todd Pringle will lead Midroll’s product development and still lead the Stitcher product development team while Stitcher’s editorial and sales will join Midroll’s teams.