SiriusXM and iHeartMedia are in talks for a merger, according to The New York Times.
iHeartMedia has more than 860 stations, and SiriusXM had more than 33 million subscribers in 2025, according to the outlet. Both companies have been embracing the podcast industry, which has surpassed the popularity of AM/FM talk radio, per TechCrunch. According to the outlet, podcasts account for 40% of spoken-word audio listening time, compared with 39% for traditional radio.
Forbes notes that both companies’ podcast ventures are part of their growth strategy. SiriusXM’s roster includes talents such as Alex Cooper, Howard Stern, and Stephen A. Smith, who signed a three-year contract in 2025 valued at $36 million, according to The Athletic.
iHeartMedia works with talents including Charlamagne Tha God. As previously reported by AFROTECH™, iHeartMedia signed Charlamagne Tha God to a five-year, $200 million deal in 2025. The move also expanded The Black Effect podcast, a joint venture the two share, which amplifies diverse voices across politics, social justice, sports, music, relationships, mindfulness, and more.
Bloomberg reports that discussions are now underway regarding a potential sale of HeartMedia to SiriusXM. Irving Azoff, chairman and CEO of private media and investment firm The Azoff Co., and Apollo Global Management are reportedly in talks to facilitate the deal. However, no comment (at the time of this writing) has been made by a representative from Apollo Global Management or SiriusXM.
As it relates to a potential merger, a spokesperson from iHeartMedia told Forbes, “We don’t comment on rumors or speculation.”
Following reports of the possible sale, iHeartMedia’s shares rose by 35% at the close of trade on April 24, according to The New York Times, then declined by 4% hours later, per Stocktwits. Sirius XM, however, moved in the opposite direction, with its shares falling 5%.
The New York Times also notes that more companies are pursuing large-scale deals because they believe mergers are more likely to be approved under the Trump administration than they were under President Joe Biden.
