Daily Mail..15 Feb 2022 07:56
https://www.dailymail.co.uk/money/markets/article-10512287/Nick-Candy-eyes-50m-windfall-tech-giants-mull-bids-Audioboom.html
Nick Candy is eyeing a £50million payday as Amazon and Spotify consider takeover offers for Audioboom.
The property tycoon, who is married to Australian singer and actress Holly Valance, has a 14.8 per cent stake in the podcast maker.
His holding was valued at £45million last night after shares rose 10.8 per cent, or 190p, to 1950p. The shares are up tenfold since the start of 2020 when they were trading at 195p.
Amazon is said to be working with bankers at JP Morgan on an offer. City sources said a bid would have to top 2250p a share, or £355million. That would value Candy’s stake at £52million.
It is one of the world’s biggest podcasters and its shows are downloaded 116m times every month by 32m people. A boom in listeners in the pandemic helped it to its first annual profit, earning £1million in 2021.
Audioboom put itself up for sale in 2020 but failed to find a buyer, and rejected an approach last year that would have valued it at £188million.
Spotify and Amazon add to a host of companies thought to have been circling, including Swedish podcast host Acast, believed to be the front-runner.
Others said to be interested include Sony Music, Google and US media company Liberty.