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.