SiriusXM acquires Team Coco podcast media company

SiriusXM has bought comedian Conan O’Brien’s podcasting company for a reported $150 million in a massive media acquisition announced on Monday.

The acquisition of Team Coco, O’Brien’s company, includes his hit podcast “Conan O’Brien Needs a Friend,” as well as the O’Brien-led podcast network and digital media business. The current staff of Team Coco will continue to produce the network’s slate of popular podcasts, as well as collaborate on content for SiriusXM, the company said as part of its announcement.

The Wall Street Journal on Monday reported the multiyear deal was valued at around $150 million.

“When I started in television my ultimate goal was to work my way up to radio,” O’Brien said. “This new deal with SiriusXM builds on the great relationship that began several years ago with a team that is the standout in their field.”

Scott Greenstein, president and chief content officer of SiriusXM, said O’Brien has “built an amazing brand and organization at Team Coco with a proven track record of finding and launching compelling and addictive podcasts.”

The former talk show host last year ended his late-night run, finishing on TBS after more than 4,000 episodes of “Late Night,” “The Tonight Show” and “Conan,” and has since launched Team Coco, a production and podcasting company named after the fans who rallied to his side amid controversy over the hosting gig at “The Tonight Show.”