iHeartRadio and SiriusXM in Early Merger Talks, With Irving Azoff and Apollo Advising

Source: Variety

Apr 24, 2026 3:41pm PT

By Jem Aswad

IHeartMedia and SiriusXM are in early talks to join forces, with veteran music industry mogul Irving Azoff and Apollo Global Management offering to assist with and advise on any such deal, sources tell Variety.

News of the potential merger was first reported by Bloomberg, however, a source stated that any reports of financial problems at iHeart are untrue, and also that the companies are looking at a merger, not the acquisition of one by the other.

Such a merger would ⁠unite the largest terrestrial radio network in the U.S. (iHeart, which claims to reach 250 million monthly listeners via its 850-plus stations) and the largest satellite radio network (SiriusXM, with 33 million subscribers as of last year), creating an audio powerhouse.

The sources said that the objective of combining the companies would be to provide greater scale and partner with artists to create platforms. However, it is clear that, with both terrestrial and satellite radio losing listeners and influence as streaming and multiple other options become increasingly available to listeners, the companies would be stronger together than apart.



Read more: https://variety.com/2026/digital/news/iheartmedia-siriusxm-merger-talks-azoff-apollo-advising-1236730151/