backtop


Print 13 comment(s) - last by wordsworm.. on Feb 1 at 8:09 PM

Amazon.com announces its plans to buyout Audible.com for large sum

Amazon.com, Inc. announced on Wednesday that it reached an agreement with Audible, Inc. to buy out the digital spoken word business.  The purchase will cost Amazon.com about $11.50 per share, totaling roughly $300 million. This will include Audible’s cash and short-term investments at closing.

Audible.com offers a massive range of audio books from top authors, as well as a library of newspapers, magazines, television and radio programs, and original programming.  The website hosts over 80,000 programs throughout the U.S., U.K., Germany and France.  Some of the major authors and sources include, Stephen King, Thomas Friedman, The New York Times, The New Yorker, and Charlie Rose.

"This deal brings together two pioneering companies that share a long history of ceaseless focus on improving the customer experience," said Donald Katz, founder and chief executive of Audible.com. "We are very excited to be joining a company as innovative as Amazon.com."

It looks like Amazon is focusing on the digital music market with this purchase, and its recent move to take its DRM-free digital music download service international. 

The acquisition is expected to close by the second quarter of 2008.





Comments     Threshold


This article is over a month old, voting and posting comments is disabled

Worried
By mikable on 2/1/2008 11:56:22 AM , Rating: 2
I worry about Audible's subscription plan. Would be a shame if Amazon changed it. But I'm not gona hold my breath.




"We are going to continue to work with them to make sure they understand the reality of the Internet.  A lot of these people don't have Ph.Ds, and they don't have a degree in computer science." -- RIM co-CEO Michael Lazaridis



Most Popular ArticlesAre you ready for this ? HyperDrive Aircraft
September 24, 2016, 9:29 AM
Leaked – Samsung S8 is a Dream and a Dream 2
September 25, 2016, 8:00 AM
Yahoo Hacked - Change Your Passwords and Security Info ASAP!
September 23, 2016, 5:45 AM
A is for Apples
September 23, 2016, 5:32 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM







botimage
Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki