Photo: Mohammed Elshamy/Anadolu Agency/Getty Images

Spotify is in talks to buy Gimlet Media — a Brooklyn-based podcasting company co-founded by former “This American Life” producer Alex Blumberg — for more than $200 million, Recode first reported and the WSJ confirmed.

The big picture: Apple dominates podcast distribution right now. And while Spotify has been promoting podcasts to its base of 200 million users in recent months, this would be the company's first big move into podcasting, as it works to enhance its narrative-audio offerings. It would also mark Spotify’s first purchase of a content production and distribution company.

Between the lines: Podcasting offers media companies ad space where Facebook and Google currently aren't dominant, as the tech giants have almost nothing in podcasts and audio ads, Axios' Felix Salmon notes.

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.