Amazon Strikes Deal to Acquire Podcast Network Wondery

By Sheridan Fifer

In September of 2020, Amazon Music launched podcasts. A few months later, Amazon has announced a deal to acquire Wondery, an independent podcast network, for an undisclosed sum (though, according to The Wall Street Journal, Wondery's asking price was about $300 million). The deal represents a big bet on the podcast format, which allows streaming platforms to avoid the licensing fees associated with music. 

In buying Wondery, it seems clear Amazon hopes to replicate the success Spotify found in focusing on podcasts. 

Read the full story at Engadget.