Deals
Spotify Pays $250 Million for Ringer in Podcasting Drive
- Streamer has spent more than $600 million on podcast deals
- Sports columnist Bill Simmons founded the Ringer in 2016
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Spotify Technology SA is paying close to $200 million upfront for the Ringer, the growing online sports and pop-culture outlet, as part of its push into podcasting, according to a person with knowledge of the matter.
The previously undisclosed price of 180 million euros will be followed by more than $50 million later, said the person, who asked not to be identified because the terms aren’t public. Spotify, the world’s largest streaming audio service, is expected to detail the costs in a regulatory filing soon.