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

RE: Very Happy
By tastyratz on 2/1/2008 1:28:39 PM , Rating: 2
Lossless would sure be nice however I doubt we will see that for an extremely long time.
Right now Amazon's service is 256kb music. This is a far cry from many mp3 services that were 128kb for a very long time. 256 is a very acceptable bitrate to have. I personally use 320kb mp3's for all my personally ripped sansa music but 256 is more than acceptable if you ask me. They have come a long way. Look at napster/Itunes rates and you will see they offer a better quality drm free music.


"Nowadays you can buy a CPU cheaper than the CPU fan." -- Unnamed AMD executive











botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki