Podcast giant Acast has acquired Wonder Media Network (WMN), a strategy, production, distribution, and design firm. The merger will create a new division within Acast called Acast Creative Studios.
Wonder’s portfolio of original podcasts comes along with the deal. Those shows are all highlighted HERE.
Wonder Media Network
WMN is a female-founded audio-first creative studio based in NYC. It was founded in 2018 by Jenny Kaplan and Shira Atkins in 2018. Kaplan has been with Bloomberg since 2014. Atkins has worked in the field of poverty and homelessness, and founded consultancy SA Partners. She has been Chief Revenue Officer of Wonder Media Network.
TransactionDetails
The transaction will be effected pursuant to a unit purchase agreement under which WMN will become a wholly-owned subsidiary of Acast. The consideration comprises USD 5.5 million in cash as well as an equity component of no more than 1,768,861 shares (subject to performance criteria through 30 June 2025) representing a dilution effect of maximum 1%. In addition there is a customary retention element. The total consideration reflects an EBIT multiple of 5–7x.
“This acquisition significantly expands our US operations with the introduction of a highly experienced content studio – in both original and branded, empowering advertisers to create even more impactful campaigns across audio and beyond,” said Acast CEO Ross Adams.
“WMN’s mission is so tightly aligned with that of Acast – bringing important and changemaking stories to the world,” said WMN CEO Jenny Kaplan. “Together, we will allow both creators and advertisers to reach new audiences, build successful businesses, and shape the future of audio.”
Original PR with more details HERE.
