Scripps Acquires Triton Digital
• The E.W. Scripps Company may have gotten out of the day-to-day radio business, but the company is staying within shouting distance with its pending acquisition of Triton Digital, the global leader in digital audio technology and measurement services in a $150 million deal.
Triton powers or measures streaming music and podcasting for many of the biggest names in audio, including Pandora, Spotify, NPR, iHeartMedia, Entercom and Cumulus, as well as international partners. Triton’s data and measurement service is recognized as the currency by which publishers sell digital audio advertising.
Scripps President & CEO Adam Symson (left) said the acquisition is consistent with the company’s growth strategies and operating performance goals, commenting, “Triton positions Scripps well to expand its role in the fast-growing global digital audio marketplace. Triton’s efficient business model, multiple growing revenue streams, competitive advantages and expanding international footprint made this an attractive opportunity.” Symson continued, “The acquisition of additional television stations remains our No. 1 M&A priority, with the goal of enhancing our national scale and in-market depth for our Local Media portfolio. On the National Media side, acquiring Triton complements our strategy of owning growth businesses that capitalize on the evolving habits of media consumers and furthers our commitment to margin expansion.”
Triton Co-founder & CEO Neal Schore and his veteran management team will continue to lead Triton. Schore said, “Joining Scripps, a company known for its focus on the future of media, will support our continued innovation and will strengthen the products and services we offer to our clients here in the U.S. and as we continue our expansion across the globe.” The transaction is set to close before the end of the year. Moelis & Company served as financial advisor to Triton for the transaction.
