Entercom Acquires Podcorn For $22.5 Mln - Quick Facts

(RTTNews) - Entercom Communications Corp. (ETM), home to premium podcast companies Cadence13 and Pineapple Street Studios, announced Wednesday the acquisition of Podcorn, the largest self-service marketplace that connects podcasters with advertisers for native sponsorships.

The transaction values Podcorn at $22.5 million, with an upfront cash payment of $14.6 million and a performance-based earnout over the next 3 years.

Podcorn's marketplace includes nearly 40,000 creators and has facilitated thousands of podcast ad campaigns. The acquisition of Podcorn expands Entercom's product offering for advertisers and builds on its position as one of the country's three largest podcast publishers and the top creator of original, premium audio content.

Podcorn was founded by Agnes Kozera and David Kierzkowski following the successful acquisition by Google of their previous company FameBit. Kozera and Kierzkowski will continue to lead Podcorn, joining Entercom's leadership team.

Podcorn's marketplace of niche creators will complement Entercom's existing critically-acclaimed roster of the largest and most influential podcasts, while helping it identify talented new creators. There are now more than 2.5 million podcasts, 60% of which were created in the past two years.