Audioboom owner Nick Candy abandons attempts to find a buyer

by

Audioboom owner Nick Candy abandons attempts to find a buyer for the podcast firm

By Daily Mail City & Finance Reporter

Published: | Updated:

Audiogloom: Nick Candy pictured with wife Holly Valance

A podcasting group backed by property tycoon Nick Candy has abandoned attempts to find a buyer after it failed to attract a good offer.

Audioboom, which hosts podcasts for the Spectator and former Great British Bake-Off presenter Sue Perkins, had put itself up for sale in February.

In the same month Candy and chairman Michael Tobin lent the company £3.1milliom.

In the latest boost to its coffers, Audioboom said it had netted £3.2million from selling a 10 per cent stake in the company to Singaporean group One Nine Two.

Audioboom shares surged 11.3 per cent, or 20p, to 197.5p after it reported turnover in the three months to September had risen by 15 per cent to £5million, while losses narrowed from £768,000 to £300,000. 

The group benefited from a rise in podcast listening during lockdown.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.