New York Times To Buy Serial Productions; Terms Undisclosed

(RTTNews) - The New York Times Company (NYT) said that it agreed to buy Serial Productions, the company that produces "Serial" podcast. The terms of the transaction were not disclosed.

In addition, The Times also announced that it entered into an ongoing creative and strategic alliance with "This American Life" that will enable it to continue to collaborate on long-form audio stories with Serial Productions and to collaborate on marketing and advertising sales with The Times.

Serial Productions is a team of audio's journalists and narrative storytellers led by Julie Snyder, Sarah Koenig and Neil Drumming. Each episode of "Serial's" first season was downloaded 20 million times on average and is credited with igniting the current podcast boom.

"This American Life" is the iconic, long-running, weekly public radio program, founded by host and executive producer Ira Glass.

"This American Life" remains an independent company and will continue its weekly broadcasts on public radio and its podcast, the company said.