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Spotify to buy podcasting studio Parcast

Spotify Technology SA agreed to acquire story-based podcasting studio Parcast for an undisclosed amount.

The acquisition will allow Spotify to make Parcast's content available on its platform, including series across genres such as mystery, crime, science fiction and history.

Subject to customary closing conditions, the deal is expected to close in the second quarter.

Spotify, which has identified podcasting as an opportunity for growth, recently agreed to purchase podcast content producer Gimlet Media Inc. and podcasting services company Anchor FM Inc.