A national TV station group is expanding its community influence by incorporating podcasts..
Tegna, which reaches 51 markets, acquired Utah-based Locked On Podcast Network, founded in 2016 by David Locke, the radio voice of the Utah Jazz.
“Local communities are at the heart of what we do, “said Tegna CEO Dave Lougee. “We look forward to growing the Locked On network through collaboration with our local stations, including the potential for video simulcasts of shows, and further increasing distribution, engagement and monetization of these fan favorite podcasts.”
The podcast network includes shows on the NBA, NHL, MLB, NFL, fantasy leagues and over 30 colleges.
Locked On by the numbers:
- Raised $750,000 in its only external funding round
- Roughly 160 daily sports radio shows
- 600 podcast episodes weekly, generating 8 million listens per month
While full terms of the deal were not disclosed, Tegna says the acquisition will be financed through cash on hand, with Locked On remaining a standalone business within Tegna.
The acquisition comes on the heels of another localized podcasting investment.
Sports podcast network Blue Wire raised a $5 million Series A funding round in December. That was shortly after a $1.2 million round that included former NBA player Baron Davis.