Amazon.com Incorporated said on Wednesday it would acquire podcast start-up Wondery, aiming to beef up non-musical content on its Amazon Music app.
Earlier this month, the Wall Street Journal had reported that the firms were in deal talks, pegging Wondery at a valuation of more than $300 million.
According to Reuters, Amazon is relatively a late entrant to the booming podcast space, a key area of focus for Spotify Technology, which has been investing in big names in an effort to become the Netflix of audio content.
Wondery, which houses popular podcasts like “Dirty John”, “Dr. Death”, and “Business Wars”, has about 20 million monthly unique listeners, according to a Variety report.
Last month, Bloomberg News reported that both Apple Inc and Sony Music Entertainment have held talks about acquiring Wondery.