Podcast platform Audioboom has launched headfirst into an ambitious reverse takeover of US rival Triton Digital.
The AIM-listed firm — worth just £35.2 million and backed by property tycoon Nick Candy — said it planned to buy the share capital of Triton Digital’s parent company for £134 million.
Audioboom will take its partner’s name, while Triton’s Neal Schore will become chief executive and Mark Rosenbaum chief financial officer. Audioboom’s current chief executive Robert Proctor is to step aside and be executive director.
The deal gives Audioboom, home of comedian Romesh Ranganathan’s Hip Hop Saved My Life podcast, access to the US market — reportedly worth $17.5 billion in annual advertising. Dubbed the “Netflix of radio”, Audioboom has Sue Perkins and the QI production team signed up. The firm also reported strong trading since Christmas.