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That’s what The Financial Times is reporting as the price the streaming music company paid for the three year old story-driven podcast network launched by Max Cutler. Cutler is the son of Ron Cutler, who was the CEO of Cutler Productions, a very successful radio syndication and network company.
Check out our Wednesday story about the sale HERE.
In addition to the recently announced Gimlet/Anchor purchase, Spotify CEO Daniel Ek said he would spend up to $500 million to ramp up Spotify’s podcasting play. If the Parcast number is true he has $400 million left in the podcast kitty.