Spotify, an international media services provider, completed the acquisition of The Ringer, a creator of sports, entertainment and pop culture content, for $249m. "We look forward to putting the full power of Spotify behind The Ringer as they drive our global sports strategy. As we set out to expand our sports and entertainment offerings, we wanted a best-in-class editorial team. Bill Simmons is one of the brightest minds in the game and he has successfully innovated as a writer and content creator across mediums and platforms. The Ringer's proven track record of creating distinctive cultural content as well as discovering and developing top tier talent will make them a formidable asset for Spotify," Dawn Ostroff, Spotify Chief Content Officer.