GoldState Music, founded by Charles Goldstuck, has made a minority investment in Podium Entertainment, an audiobook publisher. This investment comes alongside Flexpoint Ford and Shamrock Capital, which have acquired Podium from Presidio Investors, with the deal announced on September 21. Although the financial terms have not been disclosed, The Wall Street Journal reported that the acquisition price exceeded $400 million, based on sources familiar with the matter.
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Established in 2022, GoldState focuses on investments in music rights, companies, and technology. With this new investment, GoldState expands its portfolio into book publishing. The firm has previously raised two funds for music rights purchases, including a partnership with Flexpoint in 2023 and a $500 million fund co-led by Northleaf Capital Partners and Ares Management in April 2025.
Earlier in February 2025, GoldState partnered with Bridgepoint Group to target growth equity investments within the music sector. Both GoldState and Flexpoint have previously invested in Create Music Group, which received a $165 million investment led by Flexpoint in June 2024.
The acquisition of Podium extends Flexpoint's expertise in music assets into the audiobook space. Charles Goldstuck expressed enthusiasm about the partnership, highlighting the potential for digital audio to grow under effective production and distribution models. He stated, "Podium is poised to take full advantage of the changing landscape for audio around the globe."
Mike Morris, Managing Director at Flexpoint Ford, noted the transformative effect of digital audio on independent authors, comparing it to the impact streaming has had on independent musicians. He described Podium as a differentiated platform that helps authors retain ownership while expanding their audiences, emphasizing its strong positioning for future growth.
Podium, based in Los Angeles, claims to represent over 3,000 authors and is the third-largest audiobook publisher in the industry. Since Presidio’s initial investment in 2019, Podium's catalog has expanded from about 1,200 to over 15,000 titles, and it has ventured into ebook and print formats, additionally acquiring the book sales data service Bookstat.
Scott Dickey, CEO of Podium Entertainment, expressed pride in the company's progress and the support received from Presidio, describing the new partnerships as an opportunity to enhance their services for authors and storytellers.
Karl Schade, Managing Partner at Presidio Investors, reflected on the success of Podium since 2019 and looked forward to future developments. Shamrock Capital, which manages about $7.4 billion in assets, invests predominantly in media and entertainment sectors. In a notable prior deal, Shamrock sold the master recordings of Taylor Swift's first six albums back to her in May 2025. As part of the recent acquisition, Podium will collaborate with Ownership Works to give all employees a stake in the business. David Kaefer, a former Spotify executive, will also join Podium's board of directors.