According to a new report from The Wall Street Journal, Amazon is now in exclusive talks to purchase the independent podcast network Wondery. This comes after a report last month suggested that Apple was among a handful of companies that had expressed interest in acquiring Wondery.
Today’s report says that the talks between Amazon and Wondery value the company at over $300 million. The talks, while exclusive, are still “ongoing and negotiations could still fall apart,” the report cautions. The valuation comes as Wondery will increase its revenue to more than $40 million this year.
The WSJ also has some detail on why the acquisition of Wondery would be so notable:
Closely held Wondery is the last large independent podcaster on the market—and could present the final opportunity for a major tech or media giant to buy its way into the exploding field. Wondery’s investors include venture-capital firms such as Waverley Capital, Lerer Hippeau Ventures, Greycroft Partners and Advancit Capital.
Apple and Wondery do have an existing relationship. Earlier this year, it was announced that Apple TV+ would develop a limited series telling the story of WeWork, based on the Wondery podcast “WeCrashed: The Rise and Fall of WeWork.”
For Apple, Wondery was an interesting acquisition target likely because of the boost it could provide to both Apple Podcasts as well as Apple TV+. Apple has slowly been expanding its podcasting efforts recently, introducing companion podcasts for TV+ originals and acquiring the Scout FM podcast app earlier this year.
Nonetheless, despite Apple’s interest in acquiring Wondery, it appears that Amazon has become the front-runner. Notably, Spotify had apparently decided not to throw its hat in the ring, despite having previously acquired a multitude of podcasting companies.