Scripps Buys Popular Stitcher Podcast Service for $4.5 Million

Podcast platform Stitcher, purchased by streaming music service Deezer in 2014, has now been acquired by the E.W. Scripps Company for $4.5 million. Scripps owns 34 radio stations in eight markets, while Stitcher provides streaming for more than 65,000 podcasts. “Stitcher will operate as part of Midroll Media, which Scripps purchased about a year ago,” reports Radio Ink. Stitcher employees joining Midroll will operate out of San Francisco. Stitcher’s GM and VP of product Todd Pringle will lead product development.