On November 11, 2025, Stingray Group Inc. agreed to acquire TuneIn Holdings in a transaction valued at up to US$175 million (C$245 million), with US$150 million (C$210 million) payable at closing and up to US$25 million (C$35 million) payable 12 months after closing. The consideration is premised on TuneIn’s forecasted US$110 million (C$154 million) of sales and US$30 million (C$42 million) of adjusted EBITDA for the twelve months ending Dec. 31, 2025. Stingray secured an additional US$150 million (C$210 million) term loan under its renewed credit facility to help finance the transaction, which is subject to TuneIn stockholder and regulatory approvals and is expected to close by year-end 2025. The deal is intended to expand Stingray’s global digital audio footprint and advertising capabilities by integrating TuneIn’s ad platform and distribution partnerships; TuneIn reports more than 75 million monthly active listeners across 100,000+ radio stations and 200+ platforms and devices.

Financial and legal advisors named in the release are National Bank Capital Markets and Davies Ward Phillips & Vineberg LLP for Stingray, and Houlihan Lokey and Skadden, Arps, Slate, Meagher & Flom LLP for TuneIn.