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Hamilton Locke advised on the Australian elements of the sale by The E.W. Scripps Company (NASDAQ: SSP) of its subsidiary Triton Digital® to iHeartMedia (NASDAQ: IHRT) for USD$230million. The deal marks a successful exit by E.W. Scripps from the podcasting and digital audio space after acquiring Triton Digital back in 2018.
Triton Digital is the global technology and services leader to the digital audio and podcast industry. iHeartMedia is a US radio broadcaster.
Captured in the sale was Australian subsidiary Omny Studio, Triton Digital’s on-demand audio management and publishing platform used by media powerhouses such as CNN, Fox News, News UK, Warner, CBS, Fairfax and Nine. Hamilton Locke also advised on Triton’s acquisition of Omny Studio in 2019.
Commenting on the transaction, Brent Delaney said: “Having previously advised on its acquisition of Omny Studio, we are delighted to have supported The E.W. Scripps Company in its successful exit from this space two years later”.