In order to improve itself in the digital audio market, Amazon.com Inc (AMZN) confirmed on Wednesday its plan to buy the U.S. podcast studio Wondery, confirming details released by the Wall Street Journal in early December. The news though had no impact on company’s stock but that fell by 1% to $3285.85 because of the general market traits.

The e-commerce giant, already present in the audiobook business with Audible, did not reveal the volume of this purchase. The ‘WSJ’ has cited sources predicting that more than $300 million could be forked over by Amazon.

According to ‘Variety’ magazine, Wondery is one of the leading podcast production studios in the United States, and boasts over 20 million unique listeners every month. With the series like “Dr Death”, “The Shrink Next Door,” “Dirty John,” and “Business Wars,” among others, the podcast network specializes in documentaries. Wondery also works with newspapers such as USA Today, Los Angeles Times, MSNBC, or NBC News for the U.S. news.

Wondery, one of the few independent podcast studios, is predicted to have sales of $40 million in 2020, according to the ‘WSJ’, three-quarters of which comes from the commercials embedded in its audio programs. Apple and Sony Music Entertainment have both tried to acquire Wondery, according to Bloomberg News.

Two other prominent podcast studios have been bought by major groups within the last two years: market pioneer Spotify, which wants to create itself as Netflix for audio material, purchased Gimlet Media for $200 million in 2019, and the New York Times is in the process of closing the $50 million acquisition of Serial Productions.

After news of Fluence’s private placement in favor of the Qatar Investment Authority, shares of electric grid firm the AES Corporation (AES) dropped -2.27 percent to $22.78. At present, Fluence’s two major owners are AES and Siemens, but the proportion of both of them is diluted to 44% after the transaction.

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