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Article: Amazon buying Audible.com for $300M to expand audio content

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AP Worldstream
Article date:
January 31, 2008
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Copyright

Web retailer Amazon.com Inc. said Thursday it will buy online audio book seller Audible Inc. for $300 million (201.75 million) in a bid to expand its reach in digital audio content.

Amazon said it agreed to buy Newark, New Jersey-based Audible for $11.50 per share, a 23 percent premium over Wednesday's closing price.

Audible's catalog includes about 80,000 audio books, radio programs, spoken word selections and other digital content for download.

Amazon and Audible have been partners since 2000, when the companies, with Microsoft Corp., launched an e-book and audio-book store on Amazon.com. Company executives would not comment Thursday on whether the partnership, which ...

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