Ilyas Frenkel, founder of Single Source Media, has acquired a controlling stake in LiveRead, a podcast advertising management platform. 

The acquisition includes the complete stake previously held by departing CEO and LiveRead founder Alex Aldea, who is leaving to focus on his core business, The Paragon Collective.

As part of the transition, LiveRead has appointed its CTO and founder, Mike Perrigue, CEO. The company has also announced a partnership with Single Source Media to utilize LiveRead’s technology platform for managing podcast advertising campaigns.

According to Frenkel, the platform helps brands automate several key processes in podcast advertising, including insertion order creation, ad copy distribution, invoicing, airchecks, media plans, RFPs, ad placement grading, performance tracking, and advertising pre-approvals.

“With the help of LiveRead, we’ve already helped several brands save or recapture 2-4% of their podcast advertising costs by finding errors in their campaigns,” Frenkel said in a press release.

LiveRead is joining the Podcast Industry Trade Association, Sounds Profitable, as a partner organization.

“The decision by Ilyas to acquire a controlling stake in LiveRead enables that independence and dispels any associated conflicts of interest,” stated Bryan Barletta, founder of Sounds Profitable. “Offering a self-service model and a managed agency option for brands will help brands of any size achieve their podcast advertising goals.”

“We look forward to helping usher in a new generation of podcast advertising where marketers and brands can find the same success in podcasting that I have with a fraction of the work,” added Frenkel.