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Article: Amazon Buying Audible.com for $300M
- Article from:
- AP Online
- Article date:
- January 31, 2008
- Author:
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Web retailer Amazon.com Inc. said Thursday it will buy online audio book seller Audible Inc. for $300 million in a bid to expand its reach in digital audio content.
Amazon said it agreed to buy Newark, N.J.-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 adds links to Audible ...