Reform UK Treasurer Nick Candy takes podcast firm off sales block
The podcast firm owned by the billionaire treasurer of the Reform Party has been taken off the sales block after first laying out plans for a deal last year.
Audioboom, in which property tycoon Nick Candy is the majority shareholder, launched a strategic review in October, where it said the end result could lead to the firm getting snapped up.
But in an update on Monday, the podcast firm said it had registered interest from three different parties and came to the conclusion after its latest trading results that the offers “undervalue the company and its prospects”.
The offers were made based on the closing price of 540p on 2 October. The group has inched up just shy of four per cent since then to 560p.
In the first quarter, the firm’s revenue climbed 30 per cent to $22.5m (£16.9m). Meanwhile, profit was up 41 per cent to $4.8m.
The firm hosts podcasts from the likes of US comedian Tim Dillon and the official F1: Beyond the Grid show.
On Monday, the media business said it expects first-quarter performance to continue, with “record results” tipped for the first six months of the year. It expects revenue to come in around $45m.
Audioboom turned its first profit in 2021 and was speculated to be drawing the interest of Amazon and Spotify a year later.
It came after the AIM-listed firm’s shares quintupled to highs of 2,260p over a roughly 12-month period, notching a market cap of around £275m.
Though the frenzy of the post-Covid era has worn off in recent years and as companies slashed their market budget, Audioboom – which relies heavily on ad revenue – saw its stock plummet as much as 70 per cent as it issued numerous profit warnings.
The firm has since shifted its audience strategy as it doubled down on YouTube, which provides a lower revenue per view.
In the first quarter of 2026, revenue per view was at $45.10, a drop from $75 in late 2024.