iHeart Media acquired Stuff Media for $55m.

iHeart Media, the leading audio company in America, acquired Stuff Media, the leading for-profit publisher of entertaining and informative podcast content, for $55m. “While podcasting has already experienced tremendous growth, the real opportunity to bring the full potential of podcasts to the mainstream still lies ahead,” said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. “Stuff Media is the original trailblazer of the podcasting industry, and we’ve been impressed by its ability to grow a massive, loyal audience over the past decade, led by a strong, experienced and cohesive management team, who we welcome to iHeartMedia. This strategic acquisition will pair Stuff Media’s wildly popular content and strong creative capabilities with iHeartMedia’s extensive resources and massive scale through our digital platforms, social reach and broadcast radio stations, introducing podcasts to the vast majority of the country and offering even more unique opportunities for advertisers to reach their consumers.”