Internet giant Amazon further extends its reach into the media and entertainment industry with a new acquisition. Reports say that podcast producer Wondery is set to be acquired by the giant company.

Variety says that the deal will place the four-year-old podcast company under the helm of Amazon Music. While neither company has made public the terms of the deal, earlier reports have said that the acquisition cost $300 million.

In a statement, Amazon said that the partnership would give Wondery the resources to come up with more content that is innovative and high-quality. The statement also said that the deal would be in line with Wondery’s mission of bringing knowledge and entertainment to wherever audiences may be.

TechCrunch has a slightly deeper look at the podcast producer. The company was founded by Herman Lopez, a former Fox executive, back in 2016. According to the outlet, Wondery is currently the fourth largest podcast producer in the United States, with unique listeners now at nine million.

Before the Amazon acquisition, Wondery was funded by venture capitalists like Lerer Hippeau, Greycroft, BDMI, and Advancit Capital. Through these companies, Wondery was able to raise capital amounting to $15 million.

The Wondery acquisition is just the latest move from Amazon as it expands its footprint in the media and entertainment industry. Just recently, the company announced a first-look deal with Margot Robbie’s LuckyChap Entertainment.

With the deal, Amazon Studios will be the first to premiere any television projects that LuckyChap develops. In a statement, Amazon Studios COO and co-head of television Albert Cheng praised the LuckyChap team for its vision and focus.

LuckyChap Entertainment, which is made up of Robbie, Brett Hedblom, Tom Ackerley, and Josey McNamara, are behind the Hulu series Dollface. The production company is also working on the show Maid for streaming giant Netflix.

On the movie side, LuckyChap Entertainment produced the Margot Robbie-starrer I, Tonya, and is also working on a live-action film adaptation of Barbie together with Mattel and Warner Bros. 

Besides Amazon, other tech giants have also been bust signing talent as streaming has become more critical due to the global coronavirus pandemic. Disney signed a first-look deal with athlete and activist Colin Kaepernick and his Ra Vision Media production company.

The partnership will start with a documentary series produced by ESPN Films. The documentary intends to cover Kaepernick’s journey from being a San Francisco 49ers quarterback to a prominent civil rights activist.

Any projects that Kaepernick and his production company will come up with will also be seen first by other companies under Disney, such as Hulu, The Undefeated, ESPN, Pixar, and Walt Disney Television.