Tegna desires a much bigger piece of the podcast motion: The TV station group introduced the acquisition of Locked On Podcast Network, which produces some 160 day by day exhibits for groups throughout the U.S.’s 4 main professional sports activities leagues and greater than 30 faculties.
Phrases of the deal weren’t disclosed. Tegna stated it’ll finance the acquisition by way of money readily available, noting that the acquisition shouldn’t be anticipated to materially have an effect on its 2021 monetary outcomes. Park Metropolis, Utah-based Locked On will stay a standalone enterprise inside Tegna, increasing its podcast footprint alongside digital content material studio Vault Studios and particular person Tegna stations’ podcasting efforts.
Locked On Podcast Network was based in June 2016 by David Locke, the radio voice of the Utah Jazz. In its solely outdoors funding, the corporate introduced in November 2019 that it raised $750,000 from buyers together with Bruce Gordon, former Disney Interactive Media Group CFO; podcast investor Podfund; and Utah-based private-equity agency Summit Capital.
“Local communities are on the coronary heart of what we do, and nothing brings communities collectively like native sports activities. That’s why we’re very happy to welcome Locked On to Tegna,” stated Dave Lougee, president and CEO of Tegna. “We sit up for rising the Locked On community by way of collaboration with our native stations, together with the potential for video simulcasts of exhibits, and additional rising distribution, engagement and monetization of those fan favourite podcasts.”
Teaming up with Tegna “was a pure match as we search to develop our viewers and broaden our choices,” Locke commented. “We’re excited to start our subsequent part as we work with Tegna on new improvements that may improve our price with our loyal listeners and assist us attain new sports activities followers throughout the nation.”
The Locked On (lockedonpodcasts.com) lineup spans each NBA, NFL, MLB and NHL staff plus main faculty basketball and soccer groups and conferences. The corporate additionally produces day by day podcasts for fantasy sports activities, sports activities betting and the NFL draft. As well as, Locked On has inked a take care of radio broadcaster Entercom Communications to create authentic sports activities podcasts for Entertcom’s new BetQL Audio Network for sports-gambling content material.
All informed, Locked On at present publishes greater than 600 podcast episodes weekly and says it generates round 8 million listens monthly. In 2020, its podcasts have been downloaded greater than 80 million occasions.
With the deal, CEO Locke, COO Carl Weinstein and Locked On’s 4 different full-time workers members will be part of Tegna. The businesses anticipate Locked On’s present podcast contributors — greater than 200 hosts — to stay on board.