Stingray Acquires TuneIn, Creating an Audio Streaming and Advertising Powerhouse

[Y2kTheNewOldies]

Stingray Acquires TuneIn, Creating an Audio Streaming and Advertising Powerhouse

Stingray an industry leader in music and video content distribution, business services, and advertising solutions, announced today it has entered into a definitive agreement to acquire TuneIn, a pioneer in live audio streaming and ad monetization.

corporate.stingray.com

Radio streamer TuneIn acquired for $175M | TechCrunch

Radio streamer TuneIn sold for $175M, down from its earlier valuation of $500M.

techcrunch.com

Its a move to make Tunein compete against other platforms like Iheart and spotify.

Stingray Group Inc. (TSX: RAY.A; RAY.B) (‘’Stingray’’ or ‘’The Corporation’’), an industry leader in music and video content distribution, business services, and advertising solutions, announced today it has entered into a definitive agreement to acquire TuneIn Holdings, Inc. (‘’TuneIn’’), a pioneer in live audio streaming and ad monetization. The transaction is valued at up to US$175 million, based on TuneIn’s forecasted sales of US$110 million and adjusted EBITDA of US$30 million for the twelve-month period ending December 31, 2025. Stingray will pay US$150 million at closing and up to US$25 million 12 months following the closing. Stingray secured an additional US$150 million term loan under its renewed credit facility to finance the transaction.

The transaction is subject to the receipt of the approval of TuneIn’s stockholders, applicable regulatory approvals as well as customary closing conditions for transactions of this nature and is expected to close by year-end 2025. This acquisition is expected to significantly expand Stingray’s global digital audio footprint, accelerate its growth in streaming services and bolster its advertising offering by incorporating TuneIn’s comprehensive ad platform, which delivers targeted audio, video, and display advertising solutions.

 

[Theater of My Mind]

Already being discussed HERE.