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SiriusXM To Acquire Podcast Business From EW Scripps for $325 Million

SiriusXM Holdings announced it will acquire E.W. Scripps’s podcast business, Stitcher, for up to $325 million, a return of more than double Scripps’ investment in podcasting over the last five years.
The fact that big money is rotating out of the leading areas and into the lagging areas is a good sign.
The company has a monopoly on satellite radio in the United States and is the only service provider of its kind.