Amazon Buys Wondery, Setting Itself Up to Compete Against Spotify for Podcast Domination
Amazon buys Wondery, setting itself up to compete against Spotify for podcast domination, now is a part of Amazon Music.
Wondery, one of the last major independent podcast networks, might soon be owned by Amazon. The companies announced an acquisition deal today, ending speculation about who might eventually buy the network, which is most well-known for true crime podcasts like Dirty John. (Apple and Sony were also reported to have at least discussed a possible purchase.)
Amazon didn’t disclose the acquisition price, although earlier reports from Bloomberg and The Wall Street Journal suggested Wondery’s value was at least $300 million. Wondery would technically be part of Amazon Music, which launched podcast support in September this year. Wondery CEO Hernan Lopez will step down and leave the company when the deal closes, and COO Jen Sargent will take over, according to Wall Street Journal reporter Ben Mullin.