Audioboom Appoints Craig Eastwood for Global Expansion Amidst Sale Talks
Audioboom Group, a leading podcast publisher, has appointed Craig Eastwood to drive international expansion as part of its long-term growth strategy. Meanwhile, the company is exploring a potential sale following approaches from interested buyers, with Fox Corporation and iHeartMedia among the rumoured suitors.
Audioboom, which produces popular podcasts like F1: Beyond the Grid, F1 Nation, True Crime Obsessed, and No Such Thing As A Fish, has seen its market capitalisation surge by 157% to nearly £100m over the last year. The company's podcasts are downloaded 135 million times each month by over 40 million listeners worldwide, making it the fifth-largest podcast publisher in the US.
This is not Audioboom's first foray into exploring a sale. In 2020, the company held talks with potential buyers with the assistance of The Raine Group. Now, J Goodwin & Co, founded by Jonathan Goodwin, is overseeing discussions with prospective buyers. While there are no confirmed formal talks, Fox Corporation and iHeartMedia are believed to be among the potential bidders.
Audioboom's board is likely to require a significant premium for any deal to secure a recommendation. With Craig Eastwood at the helm of international expansion and potential buyers circling, the future of Audioboom Group remains an exciting prospect in the podcasting industry.
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