Bauer Media Audio UK has agreed to sell its stake in Octave, the data-driven digital audio advertising platform, to News UK, ending the five-year joint venture between the two companies.
Octave was launched in 2020 to address the growing demand for digital audio advertising, providing advertisers with targeted solutions. News UK will now take full ownership of the platform, aligning it with its broader digital strategy.
David Wilcox, News Broadcasting commercial director, said, “I am proud of what we have built with Octave and thank the Bauer team for their collaboration over the last five years. I’m excited to fast-track the next chapter of Octave’s growth, delivering advanced targeting and strong returns for our clients in digital audio.”
Simon Myciunka, CEO of Bauer Media Audio UK, said, “Octave has provided advertisers with an effective way to target audiences and gain valuable audience insights. Having achieved what we set out to do, we now recognize the need to take ownership of our respective digital audio advertising strategies and part ways in good faith.”
Octave says the transition will not impact its clients, who will continue to receive the same service and insights. News UK and Bauer Media plan to announce their future digital audio advertising strategies in due course.
Image: Freepik
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