Tegna Buys Sports Podcast Network Locked On
Tegna said today that it has acquired Locked On Podcast Network, a podcast network for local sports. Locked On produces daily shows for every team across the four major professional sports leagues, as well as more than 30 college sports programs.
Locked On will expand Tegna’s presence in the quickly growing podcast market, joining digital content studio Vault Studios and stations’ podcasting efforts, and build on Tegna’s overall sports footprint.
“Local communities are at the heart of what we do, and nothing brings communities together like local sports. That’s why we’re very pleased to welcome Locked On to Tegna,” said Dave Lougee, Tegna president-CEO. “We look forward to growing the Locked On network through collaboration with our local stations, including the potential for video simulcasts of shows, and further increasing distribution, engagement and monetization of these fan favorite podcasts.”
“With local stations in many of America’s largest professional and college sports markets, joining the Tegna family was a natural fit as we seek to grow our audience and expand our offerings,” said David Locke, CEO, Locked On. “We’re excited to begin our next phase as we work with Tegna on new innovations that will enhance our value with our loyal listeners and help us reach new sports fans across the country.”
Founded in 2016, Locked On produces 160 podcasts, providing coverage of every NBA, NFL, MLB and NHL team plus major college sports teams. Locked On says it publishes more than 600 podcast episodes each week, generating eight million listens a month. Its podcasts were downloaded more than 80 million times in 2020.
Locked On also produces industry-leading, league-wide daily podcasts for fantasy sports, sports betting, the NFL Draft and national shows. Big 5 college conference experts deliver daily podcasts for college basketball and football fans for each major conference.
Locked On will continue to operate as a standalone business within Tegna. Founder David Locke, the radio voice of the Utah Jazz; Carl Weinstein, chief operating officer, and Locked On’s staff will join Tegna as part of the transaction. It is expected that current contributors will continue to provide content to Locked On.
Terms of the deal were not disclosed. Tegna said it will finance the acquisition through available cash on hand, and the transaction is not expected to have a material impact on Tegna’s 2021 financials or leverage.