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Amazon all set to acquire podcast studio Wondery

After Amazon’s deal for Wondery closes, Henry Lopez will step down as CEO.

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MUMBAI: Amazon has inked a deal to acquire four-year-old podcast producer Wondery, in a bid to diversify its offerings on the Amazon Music app.

However, terms of the deal have not been disclosed yet. Earlier this month, the Wall Street Journal learned that Amazon was in talks to buy Wondery in a deal worth over $300 million.

“We’re pleased to announce that Wondery — an innovative podcast publisher with a track record of creating and producing top-rated podcasts — has signed an agreement to join Amazon Music,” the e-commerce giant said. “With Amazon Music, Wondery will be able to provide even more high-quality, innovative content and continue their mission of bringing a world of entertainment and knowledge to their audiences, wherever they listen.”

The deal has yet to close, pending usual closing conditions. According to Amazon, “When the deal closes, nothing will change for listeners, and they’ll continue to be able to access Wondery podcasts through a variety of providers.”

After Amazon’s deal for Wondery closes, Henry Lopez will step down as CEO to focus on his recently announced Hernan Lopez Family Foundation, and Wondery COO Jen Sargent will take over the operations, Amazon said.

The acquisition of Wondery is part of Amazon’s long term strategy to monetise the podcast gold rush — and keep pace with streaming giant Spotify’s push into podcasting.

“This is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve. Wondery is already delighting listeners with its collection of immersive podcasts, and the company is evolving this entertainment medium into a truly new and exciting experience,” Amazon said while announcing the Wondery pact.

Wondery’s original shows include Dr. Death, Tides of History, Bad Batch, Joe Exotic: Tiger King, American History Tellers, The Shrink Next Door, Business Wars, The Daily Smile and Imagined Life.

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