Amazon Agrees to Acquire Wondery in Deeper Push Into Podcasting

Dec. 30, 2020, 6:17 PM

Amazon.com Inc. agreed to acquire podcasting company Wondery, as the dominant audiobook purveyor moves to strengthen in another sound-based medium.

“This is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve,” the Seattle-based retail and media giant said in a statement Wednesday. Financial terms weren’t disclosed.

Bloomberg News first reported in September that Wondery was exploring a sale, and the Wall Street Journal said earlier this month that Amazon was in the lead at a valuation of around $300 million. Apple Inc. and Sony Music Entertainment each held talks about potentially acquiring the company, ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.