Hubbard Broadcasting Buys 30 Percent Stake In PodcastOne

For the second time in less than two weeks, an old media player has bought a piece of a major podcast company.

Hubbard Radio, a Minnesota-based company that operates 30 radio stations in seven of the country's biggest markets, announced Monday it had acquired a 30 percent stake in PodcastOne, the leading podcast network, whose 200 shows deliver more than 400 million impressions every month. The two companies will work together on content development and cross promotion, as well as local, regional and national joint marketing and advertising.