This transaction is a strategic corporate acquisition wherein Stingray enters into a definitive agreement to fully acquire TuneIn. The operation is financed through a dedicated new term loan secured under the acquirer's renewed credit facility, featuring a structured payout that includes an initial closing payment and a subsequent performance-based earn-out. The primary strategic rationale driving this consolidation is to profoundly expand Stingray's global digital audio footprint and rapidly accelerate its growth within the streaming services sector. Furthermore, by directly integrating TuneIn's comprehensive ad platform and massive active listener base, the combined entity will dramatically bolster its targeted audio, video, and display advertising offerings, creating a highly scalable global audio leader.

TUNEIN, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level around LOGIN lower than the average currently observed in the TMT (Tech, Media, Telecom) sector (12.8x).

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