Amazon is working to complete the acquisition of independent podcast network, Wondery. The companies announced the acquisition in what is Amazon’s attempt to wrestle dominance of the podcast world from Spotify.
Wondery is most well-known for true crime podcasts like Dirty John. The’ve been so much speculation about the network’s sale and its eventual buyer. Apple and Sony were also reportedly in discussions to buy the network.
Reports from Bloomberg and The Wall Street Journal put Wondery’s value was at least $300 million. However, Amazon didn’t disclose the amount that exchanged hands during the acquisition.
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The deal should see Wondery become a part of the Amazon Music arm. Amazon Music itself launched podcast support in September 2020.
As part of the deal, Wondery CEO Hernan Lopez will step down and leave the company on its completion, while COO Jen Sargent will take over, according to the Wall Street Journal.
Amazon says it won’t be changing any existing shows on Wondery despite the acquisition. It says the shows will still be available via “a variety of providers”. Amazon says it hopes the acquisition will “accelerate the growth and evolution of podcasts by bringing creators, hosts, and immersive experiences to even more listeners across the globe.”
The deal is all but completed now and it is expected that Amazon will complete the deal early in 2021.
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