What you need to know
- Apple has held talks to acquire Wondery.
- Wondery is one of the largest independent podcasting networks.
- The deal could eclipse $300 million.
Reported by Bloomberg, Apple has apparently held talks to acquire Wondery, the podcasting network behind popular podcasts like "Dirty John" and "Dr. Death." According to people familiar with the matter, it could be the largest podcasting acquisition yet.
Wondery is seeking $300 million to $400 million in a possible sale, said the people, who asked not to be identified because the negotiations are ongoing.
Apple is one of four companies that have held talks about buying Wondery. Spotify has also had talks about acquiring the podcasting network but has reportedly dropped out of the race.
Apple and Sony are two of at least four companies that have discussed a deal with Wondery, according to one of the people. Though Spotify Technology SA has been the most aggressive buyer of podcasting companies over the last two years, the Swedish audio giant has pulled out of the running, said two people with knowledge of the talks. A deal is expected in coming months, but there's no guarantee that the discussions won't fall apart.
Wondery is one of the largest independent podcasting networks with a monthly audience reaching more than eight million people. Apple is already working with the studio on a project for Apple TV+ that will follow the story of WeWork.
It's possible that the price tag could scare off some would-be bidders, especially since the podcasting industry is still fairly small. But Wondery has a pipeline of podcasts that could be turned into television series and other content. It's already developing more than a dozen TV shows based on its podcasts, including a program for Apple about the rise and fall of WeWork.
Apple has recently put a lot of focus into original content for its Podcasts app. In addition to looking for acquisitions like Wondery, the company has also been working to create podcasts that pair with its original programming on Apple TV+.