iHeart & SiriusXM Talking Merger?

• UPDATED: Bloomberg News was first to report that iHeartMedia and SiriusXM have held preliminary talks to discuss a possible merger, which would combine iHeart’s 860+ ​broadcast radio stations and large podcast network and SiriusXM’s satellite programming and expansive podcast ​network, among other audio and media services.

Sources told Variety that with veteran music industry mogul Irving Azoff and Apollo Global Management have offered their assistance with any such deal, that, if consummated, would combine the nation’s largest radio company, iHeartMedia, with satellite radio provider SiriusXM, creating a radio and streaming powerhouse.

Variety‘s sources also said that the objective of combining the companies would be to provide greater scale and partner with artists to create platforms. “However,” Variety noted, “it is clear that, with both terrestrial and satellite radio losing listeners and influence as streaming and multiple other options become increasingly available, the companies would be stronger together than apart.”

iHeartMedia declined to comment when contacted by RAMP. We are advised to stay tuned.