Are Amazon and Spotify eyeing up Audioboom?

Sky News has reported that Amazon and Spotify may be considering rival takeover approaches to Audioboom.

The London-listed podcasting group is said to have a market value of over £275m, having seen revenues and its share price increasing during the pandemic.

Sky reports that City sources say, “an approach from either Amazon or Spotify was likely to be pitched at a significant premium to Friday’s closing share price of £17.60,” but it also says an insider has, “cautioned that a formal approach from the two digital giants could yet fail to materialise, and that it was unclear how public disclosure of their potential interest would affect their intentions.

On the back of rumours of takeover bids, Audioboom’s share price has seen a surge this morning.