iHeartMedia to Acquire Radiojar

Acquisition Demonstrates iHeartMedia’s Continued Investment in the
Audio Technology Space

NEW YORK–(BUSINESS WIRE)–iHeartMedia today announced it acquired Athens, Greece-based online
audio technology company Radiojar Information Technology S.A.
(“Radiojar”.) Radiojar is a centralized, cloud-based audio playout
platform, and this acquisition will allow the industry to leverage
Radiojar’s tools to cohesively combine the seamless elements of
broadcast radio and transition these skillfully-produced listening
experiences into other audio platforms including music streaming and
podcasts, delivering high quality audio experiences more effectively and
efficiently. The company was purchased by iHeartMedia, Inc. subsidiary
RCS – which is the world’s leading provider of broadcast and webcast
software, serving more than 14,000 broadcast, digital, TV, cable and
satellite music companies worldwide.

With Radiojar’s sophisticated cloud-based assets and engineering,
iHeartMedia, and other RCS clients, will now have a platform to easily
combine or parse individual audio elements such as DJ voice tracks,
music and broadcast spots to create, manage, distribute and monetize
streams, podcasts and other audio content in real-time from anywhere.

As part of the acquisition, Radiojar will also continue to provide tools
that allow independent podcasters, radio stations and individuals to
instantly create their own radio stations and broadcast from anywhere in
the world.

“Because we lead in all audio categories and understand the entire
landscape, from broadcast radio to streaming radio to podcasts, we are
always looking for next-generation technologies and services that can
complement the overall audio ecosystem,” said Rich Bressler, President,
COO and CFO for iHeartMedia, Inc. “We recognize that broadcast radio has
a very unique set of programming tools that make listening a smoother
and more enjoyable experience. These new capabilities will allow for the
seamless nature that has only been available on radio to transition to
other audio mediums including digital stations and podcasts.”

As the leading audio company in the U.S., this acquisition is the latest
in iHeartMedia’s continued commitment in innovation across all areas of
audio. The company also recently acquired Jelli, Inc., the pioneering
technology company for programmatic buying and selling of broadcast
radio and the technology platform that powers its groundbreaking
SoundPoint programmatic platform; and Stuff Media LLC which included the
HowStuffWorks (HSW) podcasting business – which solidified iHeartMedia
as the Number 1 commercial podcast publisher globally and Number 2
overall, right behind NPR (Podtrac.)

“Complementing our recent announcements about our cloud-based
scheduling, playout and disaster recovery services, this acquisition
will help RCS bring an even wider range of sophisticated online
broadcast tools to our customers,” said Philippe Generali, President and
CEO, RCS. “In the near future, using cloud-based technology, it will be
possible to launch a brand-new radio service across broadcast and
digital within minutes of the original idea. The ultimate ‘pop-up’ radio
station, if you will.”

“The Radiojar team is excited to be joining forces with the largest
audio company in America – iHeartMedia, as well as RCS – a company known
around the world for its audio software innovation.” said Stathis
Koutsogeorgos, CEO of Radiojar. “We share a vision about the importance
of cloud-based technologies, and we look forward to the opportunity to
evolve and offer our products and services to an even wider audience.”

About iHeartMedia

iHeartMedia is the number one audio company in the United States,
reaching nine out of 10 Americans every month – and with its quarter of
a billion monthly listeners, has a greater reach than any other media
company in the U.S. The company’s leadership position in audio extends
across multiple platforms including 850 live broadcast stations;
streaming music, radio and on demand via its iHeartRadio digital service
available across more than 250 platforms and 2,000 devices including
smart speakers, digital auto dashes, tablets, wearables, smartphones,
virtual assistants, TVs and gaming consoles; through its influencers;
social; branded iconic live music events; and podcasts as the #1
commercial podcast publisher globally. iHeartMedia also leads the audio
industry in analytics and attribution technology for its marketing
partners, using data from its massive consumer base. iHeartMedia is a
division of iHeartMedia, Inc. (PINK:IHRTQ). Visit iHeartMedia.com
for more company information.

About RCS

RCS is the World’s Largest Broadcast Software Company with products in
more than 14,500 radio stations, TV music channels, cable companies,
satellite music networks and internet stations worldwide. With more than
800 professionals working from 23 offices around the globe, RCS is
everywhere.

About Radiojar

Radiojar was launched in 2013 with the vision of empowering radio
stations the ability to extend into the cloud era, a vision backed by PJ
Tech Catalyst Fund, an Athens, Greece-based seed stage venture
capitalist, in which European Investment Fund and Piraeus Bank
participate via the “Jeremie” Program to support Greece-based
entrepreneurs. Radiojar using audio computing and distributed
architecture, offers cloud-first solutions with infinite scalability and
focuses on two major technology fields – cloud play-out and digital
audio delivery. As a technology provider, Radiojar, with a team
of exceptional engineering skills, addresses challenges and delivers
solutions for traditional FM/AM, media groups, web only radio stations,
music providers, in-store music solutions and service providers around
audio.

Contacts

Angel Artistone
Angel Aristone, 646-343-2410
[email protected]

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