The deal that would have reshaped the American audio landscape is, at least for now, off the table. The widely-rumored talks between iHeartMedia and SiriusXM over a potential merger have reportedly stalled after the two sides were unable to reach terms, per new information from The New York Times.
Radio Ink first reported the merger rumors on April 24, when multiple sources told Bloomberg and TheWrap that media mogul Irving Azoff was exploring acquiring both companies and combining them into a single audio entity.
iHeartMedia declined at the time to comment. SiriusXM CEO Jennifer Witz similarly sidestepped the topic on the company’s Q1 earnings call on April 30, preemptively cutting off any discussion before opening the floor to analysts. The strategic logic for a combination had centered on podcasting, where both companies have posted massive growth. iHeartMedia’s podcast revenue rose 25.6% in 2025 to $563.7 million, while SiriusXM’s podcast business grew 41% for the year.
According to two people with knowledge of the discussions cited by New York Times reporter Lauren Hirsch, the talks could yet be revived.
