AMAZON TO ACQUIRE WONDERY IN PUSH INTO PODCASTING

Amazon.com Inc. agreed to acquire podcasting company Wondery, as the dominant audiobook purveyor moves to strengthen in another sound-based medium. “This is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve,” the Seattle-based retail and media giant said in a statement Wednesday. Financial terms weren’t disclosed. Bloomberg News first reported in September that Wondery was exploring a sale, and the Wall Street Journal said earlier this month that Amazon was in the lead at a valuation of around US$300 million. Apple Inc. and Sony Music Entertainment each held talks about potentially acquiring the company, which produces shows such as Dirty John and Dr. Death. The podcasting firm had sought a price of US$300 million to US$400 million, people familiar with the matter have said.