Podcast maker Novel Audio has named a new chief executive after its former boss and co-founder settled a £15m claim with its main shareholder.
Craig Strachan, who was formally global head of podcast industry at Amazon Music, has taken on the role at the London-headquartered company which is backed by VGC Partners.
Strachan has also worked at Sky and BT and succeeds Sean Glynn who co-founded Novel Audio in 2019 alongside Max O’Brien and Matt O’Mara.
Glynn left the business last year and was sued by VGC Partners after the investment company claimed that he did not disclose that another co-founder intended to leave and that the firm’s revenue figures were inflated. However, the suit was settled the £15m claim in January this year.
Novel Audio has partnerships with the likes of iHeartRadio, Wondery and Gimlet and secured a £5m investment from VGC Partners at the start of 2023.
Strachan said: “Having been part of the industry for some time, and a podcast listener for even longer, I have loved seeing how podcasts have grown into being a mainstream media.
“It’s an exciting time to join Novel, which has an ever-growing catalogue of popular, groundbreaking and award-winning shows. I look forward to further accelerating Novel’s growth in this role, including building on our recent successes with visual adaptations of the fantastic shows the team are making.”
VGC Partners ecame a shareholder in Epic Games when the US giant acquired its portfolio company SuperAwesome, whose technology helps brands present child-safe content and advertising.
When exiting SuperAwesome, VGC Partners took cash and stock as part of its consideration.
Its portfolio also includes the likes of Andrew Flintoff-backed CBD brand Naturecan.
