Dawn Ostroff, Spotify Chief Content Officer, said that she looks forward “to putting the full power of Spotify behind The Ringer as they drive our global sports strategy.” It looks as if Simmons’ team at The Ringer will be encouraged to keep doing its own thing, in the hope of reaching an even larger audience. And the two companies already have close ties — including the Spotify co-production The Hottest Take.

The deal still has to close the usual regulatory and financial hurdles but is expected to close at some point in the next three months.

We’ve asked Spotify if it can comment.

There’s no mystery as to why Spotify might buy The Ringer. As with earlier deals, this could entice more listeners to use Spotify and, theoretically, entice some to subscribe. The podcasts themselves could be lucrative. The Ringer is believed to have made $15 million through its podcasts in 2018 alone. Whatever Spotify spent to buy The Ringer might be recouped before long.