Spotify’s making another big podcasting acquisition. The company said on Tuesday it has entered into an agreement to acquire ad tech company Megaphone in a $235 million deal. The companies declined to say whether the deal was in cash, stock or a mix of both. From a report: Megaphone offers technology for podcast publishers and advertisers seeking targeted slots on podcasts. It offers podcast hosting, distribution and ad-insertion tools for podcast publishers like ESPN and the Wall Street Journal, and advertisers can use the company’s technology to find audiences across the podcast content of those publishers. Spotify has been on a podcast acquisition tear in the past couple years, striking deals for shows from those including Joe Rogan, Kim Kardashian and Michelle Obama and buying companies like The Ringer and Gimlet Media. Now, it’s taking steps further to monetize all that content with the help of a new acquisition. Megaphone, previously called Panoply Media, rebranded in 2019 after laying off its podcast production team to focus on the technology platform side of its business. The company has been owned by Virginia-based Graham Holdings Company.
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