Sirius XM And iHeart Media In Talks To Merge

BusinessMediaSirius XM And iHeart Media In Talks To MergeByFrank Racioppi,Contributor.Forbes contributors publish independent expert analyses and insights. Frank Racioppi is the owner of Ear Worthy, focusing on podcasts.Follow AuthorApr 26, 2026, 05:50am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Howard Stern is still a big audience draw for SiriusXM. In December 2025, he announced a contract extension to continue The Howard Stern Show for three more years, featuring a flexible schedule on his dedicated channels, Howard 100 and Howard 101. He has been with the satellite radio company since 2006gettyGetting big seems to be a legitimate and sought after survival strategy in media. It’s being widely reported that iHeartMedia and SiriusXM are in early talks about combining the two companies, according to multiple sources, who say that Irving Azoff, Chairman and CEO of The Azoff Company, a private media and investment firm, and Apollo Global Management are involved to try and help facilitate a deal.Sign for iHeartRadio music radio, part of the iHeartMedia company, at the company's local headquarters in the South of Market (SoMa) neighborhood of San Francisco, California. (Photo by Smith Collection/Gado/Getty Images)Getty ImagesiHeartMedia is the largest radio station owner in the U.S., with more than 860 stations in 160 markets, while SiriusXM is the largest satellite radio service, boasting talents deals with the Alex Cooper, Stephen A. Smith, and Howard Stern. In recent years, both companies have focused on podcasts as a growth engine amid a decline in radio listenership. iHeartMedia filed for bankruptcy in 2018 and has since been working to mount a turnaround via a combination of revenue growth and a projected $100 million in cost reduction, with shares up about 10 percent year to date.Both companies have remained mum on merger talks, with representatives for SiriusXM declining to comm...