- Spotify reportedly spent $250 million to acquire The Ringer, an online publication for sports and pop culture, Bloomberg reported.
- The purchase, which Spotify confirmed last week, is the streaming platform’s latest move to grow its presence in podcasting, and follows recent purchases of Gimlet Media, Anchor, and Parcast.
- The Ringer, which has more than 40 podcast titles, was founded in 2016 by ESPN sports journalist Bill Simmons.
- Simmons’ exact ownership stake in The Ringer isn’t known, but the deal is expected to be a huge payday for the media founder.
- Visit Business Insider’s homepage for more stories.
Sports media founder Bill Simmons read more >>>