John Jurgensen, and Anne Steele
Conan O’Brien found a friend — and a buyer — in Sirius XM Holdings Inc.
The former late-night host sold his hit podcast , Conan O’Brien Needs a Friend, to the satellite-radio company, along with his Team Coco digital-media company and its network of 10 podcasts, the companies said.
Terms weren’t disclosed. The deal, which comes with a five-year talent agreement with O’Brien, is worth an estimated $150 million, according to people familiar with the sale.
The acquisition is one of the biggest moves yet by Sirius in the competition among audio companies to lock in successful podcast producers and stars with loyal followings..
Along with O’Brien and all the ad revenue from his podcasts, Sirius (NAS:SIRI) is getting a respected comedy brand in Team Coco. O’Brien will produce a full-time Team Coco comedy channel for the company’s satellite subscription service.