SiriusXM is Reportedly in Talks to Buy iHeartMedia
A combined company would unite 860-plus radio stations and the biggest U.S. podcast network as both firms seek greater scale, sources said.
- IHeartMedia and SiriusXM have entered early merger discussions involving music industry figure Irving Azoff and private equity firm Apollo Global Management, according to sources familiar with the talks.
- Both companies face mounting pressures from declining traditional radio listenership and stagnant growth, prompting them to lean into podcasts and digital audio as diversification strategies.
- Together, the combined entities could generate annual sales exceeding 12 billion dollars, uniting the nation's largest terrestrial broadcast radio owner with the leading satellite radio service across the United States.
- Shares in iHeartMedia jumped more than 35% on Friday following the Bloomberg report, though sources caution the discussions remain preliminary and any deal would face antitrust scrutiny.
- Sources stressed no deal is guaranteed as both organizations navigate market challenges ahead of earnings reports; SiriusXM reports next week while iHeartMedia releases results on May 11.
26 Articles
26 Articles
Does a Merger With iHeartRadio Make Sirius Stock a Buy?
The post Does a Merger With iHeartRadio Make Sirius Stock a Buy? appeared first on 24/7 Wall St.. Quick Read iHeartMedia (IHRT) surged 35% on merger news while Sirius XM (SIRI) fell 5%, reflecting investor concern that combining the largest U.S. terrestrial radio network with the dominant satellite radio platform would drag down Sirius XM’s higher-margin subscription business by exposing it to lower-margin advertising-dependent radio assets an…
SiriusXM is Reportedly in Talks to Buy iHeartMedia
iHeartMedia Inc. is engaged in early-stage discussions with Sirius XM Holdings Inc. about a potential merger or sale, as both companies navigate an audio industry grappling with stagnant growth and intense competition from digital streaming platforms and podcasts, according to a report from Bloomberg. The preliminary talks, which remain confidential and could still fall apart […] The post SiriusXM is Reportedly in Talks to Buy iHeartMedia appear…
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