The E.W. Scripps Co. has bought Triton Digital Inc., a local company, for $150 million from private equity firm Vector Capital.
The acquisition of Triton, in Sherman Oaks, is consistent with Scripps’s growth strategies and operating performance goals, said Chief Executive Adam Symson. Scripps, based in Cincinnati, owns various media properties.
“Triton positions Scripps well to expand its role in the fast-growing global digital audio marketplace,” Symson said in a prepared statement. “Triton’s efficient business model, multiple growing revenue streams, competitive advantages and expanding international footprint made this an attractive opportunity.”
Triton serves traditional, on-air broadcasters and digital music and podcast providers with an array of services, including delivering streaming audio and coordinating advertising. Its software can also measure listeners in real time. Other services include email communications, games, contests and rewards programs intended to build brand loyalty with listeners.
Vector acquired Triton in 2015 and undertook several initiatives, including expansion of measurement services, strategic investments and operational improvements.