Acast Acquires Wonder Media Network
Leading audio studio expands Acast’s audio capabilities and ability to deliver large omnichannel campaigns.
Acast, the world’s largest podcast company, today announces the acquisition of Wonder Media Network (WMN), the full-service, award-winning creative studio.
WMN will combine with Acast’s existing creative team to form a new division, Acast Creative Studios. The group will provide advertisers with integrated campaigns and branded content solutions from ideation through to production and campaign delivery, to reach engaged audiences across audio, video, social, live events and more. It will also include WMN’s existing original content arm which will continue to produce premium original podcasts.
WMN is a female-founded, audio-first creative studio based in NYC that works with leading global brands on storytelling in audio and beyond. Founded in 2018 by former award-winning journalist Jenny Kaplan and Shira Atkins, WMN produces audio, digital, experiential and social campaigns for clients including Nike, Pfizer, GE and Mercedes Benz. The new entity will be led by Kaplan and Atkins and include existing talent and resources already serving Acast’s partners looking for omnichannel creative services.
"This acquisition significantly expands our US operations with the introduction of a highly experienced content studio - in both original and branded, empowering advertisers to create even more impactful campaigns across audio and beyond," said Acast CEO Ross Adams. "Acast Creative Studios provides a complete solution, tapping into the growing demand for innovative, omnichannel campaigns. This not only opens new revenue streams for creators but also enables deeper relationships with advertisers to bring bigger, bolder ideas to life. Together, Acast and WMN have established an industry-leading group with unrivaled creative service and production capabilities. This, coupled with Acast's scale and established network, creates a dynamic ecosystem where brands, creators and audiences can all benefit."
"WMN’s mission is so tightly aligned with that of Acast - bringing important and changemaking stories to the world," said WMN CEO Jenny Kaplan. "Together, we will allow both creators and advertisers to reach new audiences, build successful businesses, and shape the future of audio."
Transaction details
The transaction will be effected pursuant to a unit purchase agreement under which WMN will become a wholly-owned subsidiary of Acast. The consideration comprises USD 5.5 million in cash as well as an equity component of no more than 1,768,861 shares (subject to performance criteria through 30 June 2025) representing a dilution effect of maximum 1%. In addition there is a customary retention element. The total consideration reflects an EBIT multiple of 5–7x.
The transaction is expected to be completed on 2 January 2025, subject to certain closing conditions that are customary in the US, such as the absence of any material adverse effect occurring, and which Acast expects to be fulfilled.