of the acquisition last week, SiriusXM has confirmed its plans to purchase podcast platform Stitcher from E.W. Scripps Co. for $265 million -- helping the satellite radio giant carve out a space in the growing podcast industry against rival Spotify.
The deal follows SiriusXM's acquisition of podcast hosting and distribution company Simplecast last month, and its 2019 purchase of online radio platform Pandora, where podcasters can upload their shows for distribution among its 61 million monthly listeners. Meanwhile, Spotify in February purchased sports media outlet -- marking Spotify's fourth podcast-related purchase of the last 12 months, after its acquisitions of Anchor, Gimlet Media and Parcast.
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