Deezer sells Stitcher to E.W. Scripps

Less than two years after Deezer bought podcast app Stitcher, the streaming music service is selling it off to media company E.W. Scripps for US$4.5 million. The Stitcher team will be joining Midroll Media, a podcast producer and advertising network. At the moment, Deezer says podcast content will be available on their platform. For how long, we can’t say. According to Scripps, Stitcher has 8.5 million registered users and is installed in 50 models of cars. The company didn’t say though how many active users the service has. Stitcher believes this acquisition will help both advertisers and content partners with “an expanded portfolio of opportunities” to help reach their target audience. We can’t say yet how they’d do that though.

Source: Engadget