The London-listed media firm which produces System One motor racing’s official podcast sequence is exploring a sale following a contemporary set of approaches from potential consumers.
Sky Information has learnt that Audioboom Group is working with advisers to discover the phrases of a possible takeover of the corporate.
J Goodwin & Co, a agency based by outstanding media trade banker Jonathan Goodwin, is known to be overseeing talks with potential consumers.
Audioboom has a market capitalisation of near £100m, after a 157% surge in its valuation during the last 12 months.
Media analysts cited the likes of Fox Company and iHeartMedia as potential bidders for Audioboom, though it was unclear on Friday whether or not any formal talks have been but going down with them or different third events.
Any deal would most likely should be pitched at a big premium to the present share value to safe a suggestion from Audioboom’s board.
Audioboom produces podcasts together with the official Formula 1 titles F1: Past the Grid and F1 Nation, True Crime Obsessed and No Such Factor As A Fish.
The corporate says its exhibits are downloaded 135 million occasions every month by greater than 40 million listeners all over the world.
It’s ranked because the fifth-largest podcast writer within the US by Edison Analysis.
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Audioboom-produced content material is distributed by means of the likes of Apple Podcasts, YouTube and Spotify.
It lately introduced the appointment of Craig Eastwood, a former govt at British podcast community Adelicious, to spearhead a world enlargement that the corporate stated can be “pivotal to Audioboom’s long-term progress technique”.
The exploration of a sale isn’t the primary time that Audioboom has engaged in such a course of.
In 2020, it labored with the service provider financial institution The Raine Group to carry talks with suitors however ultimately referred to as off the method.
On Friday afternoon, shares in Audioboom have been buying and selling at 547.5p, up about 1.4% on the day.
Audioboom couldn’t be reached for remark.
