Amazon to Acquire Podcast Production's Wonderry

Amazon announed on Wednesday its palnning to acquire the West Hollywood-based podcast company Wondery.

Amazon Music, a pision of Seattle-based commerce giant Amazon, reported that this is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve.

On the other hand, the Wall Street Journal explained this month that Amazon was in the lead at a valuation of around $300 million. The podcasting firm had sought a price of $300 million to $400 million, some news have said.

Founded in 2016,  Wondery firm produced some of the most popular podcasts in recent years, including true crime series like “Dirty John,” “Dr. Death” and “Over My Dead Body.” The podcast producer and network says it counts more than 10 million unique listeners each month.

The firm also owns Audible, which hosts audiobooks and podcasts. The service has expanded its original audio content over the past few years, as well as beefed up its slate of free podcasts, including popular shows “This American Life,” “Pod Save America” and “You’re Wrong About.”

According to CNBC report, the acquisition announcement comes as large radio and music streaming companies are expanding their reach into podcasts. Starting last year, Spotify began investing heavily in the podcast space, buying up companies including Gimlet Media and Parcast.