Tindle Media Group has taken a ten per cent stake in Podcast Radio to help the station expand internationally.
Tindle owns and operates a portfolio of four radio stations – Channel 103 in Jersey, Island FM in Guernsey, Soleil Radio across the Channel Islands and Midlands 103 in Ireland.
Nation Broadcasting also invested in the station last year in return for a 10% stake.
Gerry Edwards, Founder and CEO of Podcast Radio, says: “We’re pleased to have two very well-established commercial radio groups support our exciting plans to grow internationally. Both Nation and Tindle have shown great faith in Podcast Radio and we want to draw on their operational and commercial experience as we expand.”
Danny Cammiade, CEO of Tindle, says: “With some of the most listened-to local radio stations anywhere in the British Isles, we have a strong history in providing content which engages listeners. That is why our investment is a natural extension for our company. We look forward to seeing Podcast Radio grow and make a real difference both in the UK and the international market.”
Podcast Radio has partnered with US based KMG Networks to distribute an American version to radio stations and groups in the US.
Podcast Radio director Paul Chantler says: “With KMG, we are close to announcing our first partnership with a US broadcaster which will see us launch in several radio markets in North America. Nation and Tindle are supporting us to do this and more in 2023.”
Gary Krantz, CEO of KMG Networks, says: “Podcast Radio has established itself as a leading innovator and forward-thinking company in the UK, providing a game-changing way for listeners to discover new podcasts while drastically increasing the content offerings to spoken word stations.
“We have several deals in place to establish Podcast Radio stations in the top 50 markets that we look forward to announcing in the coming months.”
At the National Association of Broadcasters conference in New York in October, Podcast Radio announced new ideas for the way podcast content is presented on radio. The team is currently developing a new short-form audio platform alongside the streaming channels already launched for Business, Crime and Comedy content.
Other investors include Ohio-based podcast production company Evergreen, entrepreneur Simon Squibb and former BBC Radio 1 DJ and businessman Bruno Brookes.
The company is planning a US fundraise later this year.
This story first appeared on radiotoday.co.uk