E.W. Scripps acquires LA-based podcast company Midroll Media
The E.W. Scripps Company recently dumped its newspaper properties onto Journal Communications (now Journal Media) and now exclusively a broadcast and digital media company. Yesterday the company announced that it had acquired Midroll Media, a Los Angeles-based podcast company and network.
“Podcasting has emerged from the relentless evolution of the media marketplace as one of the best new platforms to build organically growing audiences and revenue streams,” said Rich Boehne, chairman, president and CEO of Scripps. “In the Midroll team and shows, we found creative content and business strategies that already have helped define the importance of podcasting, and with strong growth still to come.”
“We’re witnessing another significant shift in how audiences and advertisers interact with digital media. Smartphones are everywhere, over-the-top audio streaming is at an all-time high, and consumers are connecting through their cars in record numbers, especially young people,” said Adam Symson, Scripps chief digital officer.
Midroll Media is the largest podcast sponsorship network, according to Scripps, connecting advertisers with more than 200 of the largest podcasts. Among them, Scripps pointed out, is “WTF with Marc Maron,” which which recently featured an interview with President Barack Obama where he discussed the Charleston church shooting.
“This is an exciting moment as we begin a new phase of this company, born from the simple, but powerful idea, that great content is what results when you give highly talented people the support and platform to do their best work,” Midroll staff posted on its website.
“We’ve accomplished so much as a bootstrapped company, more than anyone could have predicted, and our entire team should have great pride in that,” Midroll founder Jeff Ullrich said. “Now the focus is on the future, and with the massive opportunity I see for the industry in general and Midroll specifically, becoming part of Scripps enables Midroll to accelerate growth and extend its leadership position.”