iHeartMedia is looking to boost its podcast network by buying the company behind popular shows like Stuff You Should Know and Atlanta Monster.
The US radio broadcaster on Thursday said it has agreed to acquire Stuff Media, which includes the HowStuffWorks podcasting business and other premium podcasts. Financial terms of the deal weren't disclosed, but The Wall Street Journal is reporting a value for the deal of $55 million.
The move comes as iHeart looks to boost its podcast division.
"While podcasting has already experienced tremendous growth, the real opportunity to bring the full potential of podcasts to the mainstream still lies ahead," said Bob Pittman, chairman and CEO of iHeartMedia, in a release. "Stuff Media is the original trailblazer of the podcasting industry, and we've been impressed by its ability to grow a massive, loyal audience over the past decade, led by a strong, experienced and cohesive management team, who we welcome to iHeartMedia."
Stuff Media's CEO and president, Conal Byrne, will serve as the head of iHeartMedia's podcast division.
Stuff Media's podcasts will maintain their own brand and continue to be headquartered in Atlanta. HowStuffWorks has been making podcasts for more than 10 years and has found success with several popular shows, including Stuff You Should Know, Stuff You Missed in History Class, TechStuff and BrainStuff.
Stuff Media also recently partnered with iHeartMedia on the true crime podcast Atlanta Monster. iHeartMedia owns more than 800 broadcast radio stations in the US, and offers podcasts, on-demand radio and live streaming via it's digital music service iHeartRadio.
Update, 12:35 p.m. PT: Adds background on iHeartMedia.