Spotify is to acquire Bill Simmons’ pop-culture and sports site and podcast company The Ringer. The music streaming service confirmed that it has entered a “definitive agreement” to buy the company…
The music streaming service confirmed that it has entered a “definitive agreement” to buy the company, although terms of the transactions were not disclosed.
Spotify is acquiring the company to bolster its audio output; The Ringer operates a slew of successful podcasts including Simmons’ own eponymous shows, which gets A-list guests from the world of sports, TV and movies,The Ringer was founded in 2016 after Simmons’ previous ESPN-backed site Grantland was closed down by the Disney-owned sports brand. HBO, where Simmons hosted talkshow-style music documentaries, was an initial investor in The Ringer.
“Spotify has the unique ability to truly supercharge both content and creator talent across genres,” added Simmons. “We spent the last few years building a world-class sports and pop culture multimedia digital company and believe Spotify can take us to another level. We couldn’t be more excited to unlock Spotify’s power of scale and discovery, introduce The Ringer to a new global audience and build the world’s flagship sports audio network.
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