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Article: Amazon buying Audible.com for $300M to expand digital audio content offerings
- Article from:
- AP Worldstream
- Article date:
- January 31, 2008
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Internet retailer Amazon.com Inc. said Thursday it will buy online audiobook provider Audible Inc. to expand its reach in digital audio content.
Amazon expects the deal, valued at about $300 million (201.75 million), will help bring to a broader audience Audible.com's more than 80,000 programs, which include audiobooks and spoken-word audio content from news outlets such as The New York Times and The New Yorker.
The deal is expected to be completed by the second quarter of 2008.
The company said late Wednesday that its fourth-quarter profit more than doubled and forecast strong sales growth for the coming year, but gave operating income guidance below Wall Street ...