E.W. Scripps Company just bought podcast company Midroll Media.
Midroll is the largest podcast sponsorship network, connecting more than 240 advertisers with over 200 of the most popular podcasts like WTF with Mark Maron. The company also creates and distributes 35 original podcasts.
“Our digital media brands expand the Scripps goal of creating a better-informed world, and Midroll fits perfectly into this portfolio,” said Adam Symson, Scripps chief digital officer. “Podcasts have emerged as a significant new voice in American media, and we are thrilled we were able to seize the opportunity to enter this business.”
The press release announcing the move says the podcast audience is “evenly split between men and women – and they are more educated and have higher incomes than average.”
“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,” said Midroll co-founder Jeff Ullrich. “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.”
The terms of the purchase were not disclosed.