Deals
Spotify Bets Big on Podcasting to Power Battle Against Apple
- Buys of Gimlet Media and Anchor signal ‘next phase,’ CEO says
- Deals come as Spotify reports its first-ever quarterly profit
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Spotify Technology SA acquired podcasting companies Gimlet Media Inc. and Anchor FM Inc., a declaration that their specialty is the next big area of growth for the world’s largest paid music service.
Spotify didn’t disclose the prices it paid for the companies, though previous reports said it would be paying more than $200 million for Gimlet. That alone would be the biggest acquisition in Spotify’s history.