Apple, Sony In Talks To Buy Major Podcaster For $400m
Apple and Sony have reportedly both held talks about acquiring American podcast network Wondery, the home of popular shows such as Dirty John and Dr. Death.
According to Bloomberg, if either tech giant is successful it will be the most lucrative deal yet in the growing podcasting market.
Wondery is allegedly seeking between US$300 million to $400 million for the potential sale and Apple and Sony are two of at least four companies who have shown interest in buying the podcaster.
The deal is set to be finalised in the coming months.
Wondery, which was founded in 2016, is one of the largest independent podcast networks, reaching a monthly global audience of over 8 million listeners.
If Apple or Sony pay the expected price of up to $400 million, the deal would beat would Spotify paid for podcaster Ringer and Gimlet Media and what Sirius XM Holdings Inc paid for Stitcher.
In 2017, Apple rebranded its iTunes Podcasts app into Apple Podcasts, signalling a renewed focus in the burgeoning industry for the California-based iPhone maker.
It has acquired two podcasting companies in the last few years, including a startup called Pop Up Archive in 2017 and podcasting service Scout FM earlier this year.
Apple remains the world’s top podcast platform, however rival Spotify is seeking to displace it after a $500 million podcast buying spree in 2020.
Sony’s music arm Sony Music has a podcasting platform, with over 100 original shows in development as of September 2020.