SiriusXM is in advanced talks to acquire podcast platform Stitcher from E.W. Scripps Co., sources tell The Hollywood Reporter.
The acquisition gives the satellite radio company a foothold in the burgeoning podcast business, which is led by rival-in-audio Spotify. The deal is expected to be announced later this week, the sources said.
A spokesman for SiriusXM did not respond to a request for comment. A spokeswoman for Stitcher declined to comment.
In addition to the Stitcher app, the company also encompasses advertising arm Midroll Media and podcast network Earwolf, which is behind such shows as Scott Aukerman’s Comedy Bang! Bang! and Office Ladies. The executive team has years of podcasting experience, which can help boost Sirius’s know-how in the burgeoning field.