Spotify Diversifying Into Audiobooks Via Findaway Buy

Spotify agreed to buy Findaway, the digital audiobook distribution company, said Spotify Thursday. This lets Spotify speed growth of its audiobook catalog and gives publishers, authors and independent creators a means to reach new audiences, it said. It's expected to close this quarter. Findaway will keep its headquarters in Solon, Ohio, under founder-CEO Mitch Kroll. Kroll will report to Nir Zicherman, Spotify head-audiobooks.