iHeart & SiriusXM Talking Merger?
• Bloomberg News and Reuters are reporting 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.
TheWrap.com, citing “a person familiar with the situation” reports that music industry mogul Irving Azoff is involved in the talks to acquire both SiriusXM and iHeartMedia. Such a deal, if consummated, would combine the nation’s largest radio company, iHeartMedia, with satellite radio provider SiriusXM, creating a radio and streaming powerhouse.
Bottom line: These talks are apparently still in the early stages, and there’s no guarantee any deal will be reached. Both iHeartMedia and SiriusXM declined to comment to Reuters. We are advised to tell you to stay tuned.
