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SPOT - Spotify closes on $235M acquisition of podcast tech company Megaphone
Spotify Technology S.A.
Spotify (SPOT) has closed on its $235M deal for Megaphone from Graham Holdings (GHC), the latest in the streaming-audio giant's podcasting deals. Megaphone provides hosting and ad-insertion capabilities for podcast publishers, and targeted ad sales for brand partners. The two companies came to a deal on Nov. 10. It allows Spotify to make streaming ad insertion available to third-party podcast publishers for the first time. After hours: [[SPOT]] +0.3%.