Corroborating a recent report of the e-commerce and tech giant Amazon looking to acquire the podcast network Wondery, the company has confirmed that it’s reached a deal to buy Wondery to join its Amazon Music brand.

The price Amazon is paying for Wondery isn’t disclosed but previous rumors had placed it at up to $300 million.

With Wondery, Amazon aims to strengthen its nascent podcast service that it just launched on Amazon Music this September. Wondery produces dozens of popular podcasts listened to by millions of persons such as “Dirty John,” “Dr. Death,” and “Business Wars”.

Even after being acquired by Amazon, Wondery’s podcasts will continue to be published on other platforms such as Spotify, Apple Podcast, and the company’s own app Wondery+.

According to a report from the Wall Street Journal, Wondery’s CEO, Hernan Lopez, will step down and hand over his role to COO Jen Sargent after Amazon completes its purchase of the company. The move seems related to Lopez facing charges of bribing FIFA soccer officials during his previous stint as an executive of 21st Century Fox.

Before Amazon reached a deal to buy Wondery, the company reportedly fielded other acquisition offers from companies including Apple and Sony.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print