Audio streaming service Spotify has struck a deal to acquire Bill Simmons’ sports-focused website, podcast network and scripted/non-scripted production house The Ringer.
The terms of the transaction, expected to close in the first quarter of 2020, were not disclosed.
As part of the deal, The Ringer brings its sports and entertainment team, podcast catalog and website to Spotify.
The Ringer also offers “new opportunities for monetization” at Spotify, along with a “continued focus on deepening audience engagement and innovating formats.”
Most recently, in January, premium cable net HBO partnered with Simmons — creator of ESPN’s ’30 for 30′ docuseries — and The Ringer to create a music-focused six-part documentary film series.
Simmons said in a statement: “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.”
“We look forward to putting the full power of Spotify behind The Ringer as they drive our global sports strategy,” Dawn Ostroff, chief content officer at Spotify, added. “As we set out to expand our sports and entertainment offerings, we wanted a best-in-class editorial team. Bill Simmons is one of the brightest minds in the game and he has successfully innovated as a writer and content creator across mediums and platforms.”