Here are the top headlines from Fox Business Flash. Check out what FoxBusiness.com is clicking on.
Amazon.com Inc. Said it has agreed to acquire podcast maker Wonder, a new move by the online retail giant to boost its audio dio ing ferings.
Amazon did not disclose the purchase price. The Wall Street Journal previously reported that Wonder was worth more than 300 300 million in negotiations.
Amazon will tap-in customers with Echo, ring devices for new ‘Sidav AL Luck’ WiFi-sharing feature
Founded in 2016, Wonderie is one of the few audio dio startups to meet with bloated podcasting advertisers and listeners in recent years. Wonderie is known for its clever, narrative-based podcasts that apply cinematic sound design to nonfiction stories.
Amazon said the acquisition of Vandry – the creator of true crime shows such as “Dr. Cutter Death,” “Dirty John” and “The Secret Next Door” – would allow the company to make its podcast ing furings more.
The Wonder Podcast will be available for free to listeners on various platforms when the deal closes, Amazon said. Wonder will join Amazon Music, a division of the company that provides music-streaming and podcasts to listeners.
Many other podcast startups have been acquired in recent years as technol, g, radio and news companies are looking for new listeners. Spotify Technology SA recently purchased Jinglet Media, Ringer and PastRakast, increasing its ability to produce and monetize podcasts.
Get Fox Business on the go by clicking here
Dow has a content partnership with Spotify’s Gimlet unit, the publisher of the same ones & Co. Co.
Last year, radio company Intercom Communications Corp. Podcasters buy Pineapple Street Media and Cadence 13. And earlier this year, the New York Times reported that the producer of the hit podcast, Serial Productions “Serial.” Announced the acquisition of.
According to people familiar with the matter, Hernan Lopez, Wonder’s chief executive, will leave the company after the deal closes. Jane Sergeant, the company’s chief operating officer, will take over the management of Mr. Lopez’s departure, people said.
After the deal closes, Mr. Lopez will focus on the Hernan Lopez Family Foundation, a new initiative to fight systemic prejudice and racism, people said.
In April, Mr. Lopez was accused of participating in an alleged scheme to pay millions of dollars in bribes to soccer officials in exchange for broadcasting rights while he was an executive at Fox Sports. Mr Lopez has denied the allegations. Mr. Lopez’s lawyer, Matthew Umhofer, told the Journal earlier this year that U.S. The accusation “is not an accusation that anything is remotely inappropriate.”
Click here to read more on Fox Business
Mr. Lopez, a subsidiary of Fox International Channels, where he was exploited in 2019 by Walt Disney Co. Fox said in a 2017 trial that he did not know or accept any bribes. Fox declined to comment. Disney did not immediately respond to a request for comment.
Journal’s Parent News Corp. And Fox Corp., the parent of Fox Sports.
Wonderly’s funds include Waverly Capital, Advance Capital, Learner Hippo and Greycroft. The company is valued at more than 100 100 million in its last round of funding in June 2019, the journal reported. This year, its revenue is expected to grow by more than Rs 3 crore.
LionTree LLC advised Wonder about the deal.
