Entercom Buys 45% Of DGital Media

Entercom Communications Corp. has purchased a 45 percent stake in on-demand audio provider DGital Media. Entercom will also provide DGital Media with significant annual marketing and promotional support across its 126 radio stations in 28 markets (pre-CBS Radio merger). DGital Media will also dedicate significant resources to create original on-demand audio content leveraging Entercom’s talent pool and relationships, DGital Media will also serve as Entercom’s exclusive third-party ad sales rep for all of its podcasts and other on-demand audio.

“We are delighted to enter into this important relationship with DGital Media that enables us to partner with the premier on-demand audio content company in the U.S. and will scale our capabilities in this rapidly growing space,” said David Field, President & CEO of Entercom. “Upon close of our CBS Radio merger, Entercom will be the clear leader in creating original audio content and we are committed to reaching our listeners in any way they wish to engage with us, whether through live over-the-air broadcasts, streaming audio, on-demand audio or in-person events and experiences. DGital Media has an impressive track record of developing and producing podcasts and growing audiences for their content partners. This partnership will strategically enhance our ability to deliver compelling audio to the public, wherever and whenever they please.”

Spencer Brown, CEO of DGital Media said, “We see Entercom as the perfect catalyst for the next phase of our growth. As the leading creator of live, original audio content in sports, news, and music, Entercom offers DGital Media access to a national audio platform that will accelerate the development of our audience engagement efforts. This strategic investment helps us extend the reach of our partners and build their audiences across the audio landscape.”