BUZZ-IHeartMedia jumps on report co in talks to license video podcasts to Netflix
Netflix, Inc. NFLX | 92.44 | -0.41% |
Alphabet Inc. Class A GOOGL | 344.40 | +1.63% |
IHEARTMEDIA INC IHRT | 5.42 | +35.16% |
Spotify SPOT | 518.00 | +0.40% |
Dow Jones Industrial Average DJI | 49230.71 | -0.16% |
** Shares of iHeartMedia IHRT.O up 30.6% premarket at $3.80, an over-two-year high, after report it's in talks to license its video podcasts to Netflix NFLX.O
** NFLX seeking exclusivity for IHRT's popular programs such as "The Breakfast Club" and "Stuff You Should Know" as the streaming giant looks to compete directly with Google's GOOGL.O YouTube, Bloomberg News reported late Mon, citing people familiar with the discussions
** IHRT might not make all of its podcasts available to NFLX if a deal comes together, according to the report
** NFLX and Spotify SPOT.N inked a similar deal last month that will bring certain feature shows like "The Bill Simmons Podcast" to the video streaming service in 2026, but will not include "The Joe Rogan Experience," SPOT's most-listened-to podcast globally
** Shares of San Antonio, Texas-based IHRT, which owns over 870 radio stations in 160 markets in the U.S., had gained 47% YTD through last close
** NFLX stock off 0.6% before the bell
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com ; 1-646-279-6380))