Internet radio broadcaster Sirius XM Holdings will buy Stitcher, a leading podcast depot, for $265 million in cash.
Sirius has said it could add as much as $65 million to the price if Stitcher reaches certain financial targets in 2020 and 2021.
Other media companies, including Spotify Technology and iHeartMedia, are strengthening their presence in the podcast industry.
TRENDPOST: As more businesses lose revenue and go down, the Bigs will get bigger as they gobble up competition in their sectors and expand into others. Thus, competition will lessen as will the variety of products and services.
