Two podcast ad agencies — Oxford Road and Veritone One — have merged to form what they call the world's largest podcast group and leading creator-based media entity.

Insignia Capital Group LLC has acquired both agencies.

Mergers & Acquisitions reports Insignia is purchasing Veritone One, part of Veritone Inc. for up to $104 million, according to a release from the seller. The final price to be determined by revenue targets next year.

Each business will operate independently; integration may come at a later date.

The alliance gives brands access to podcasting, streaming audio, radio and creator-based video channels. By providing advanced performance metrics and comprehensive channel coverage, clients achieve greater scale and global reach.

Tony Broglio, president-partner at Insignia Capital Group, added: “The advertising industry continues to rapidly evolve as brands seek more effective ways to reach consumers. These two businesses are at the forefront of digital marketing’s next great evolution with the transformative growth of audio and creator-based advertising.