E.W. Scripps Buys Podcast Company Stitcher

Media company E.W. Scripps Co. has continued its push into podcasting with the acquisition of Stitcher for $4.5 million in cash.

Stitcher is a free app that streams more than 65,000 podcasts from publishers ranging from NPR to MSNBC to The Wall Street Journal. It will operate under Midroll Media, the podcast advertising company that Scripps acquired last year for $50 million, plus $10 million more over three years if the company hits certain milestones.

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