Spotify is making yet another big-budget purchase aimed at getting
a lead in the growing podcast industry: The streaming music
company has agreed to a deal to purchase The Ringer, the
podcast-centric media company run and owned by Bill Simmons.
Spotify intends to hire Simmons and all of his approximately 90
employees. Most of those employees work on The Ringer’s website,
which covers sports and culture, and Spotify intends to keep the
site up and running.
But what Spotify really wants out of the deal is Simmons’s ability
to create podcasts, including his Bill Simmons Podcast, and some
30 other titles, which range from an NBA chat show to one devoted
to rewatching old movies.