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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.



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RE: Very Happy
By joey2264 on 2/1/2008 1:40:06 PM , Rating: 2
If by fantastic, you mean abysmal, I agree with you 100%. Sure, the final product is fine, but the shopping experience couldn't be farther away from iTunes if you tried. Their selection is horrible, and 9 times out of 10, a search for a particular artist or song will bring up 10 CD links that you have to sift through before you find a digital offering.


RE: Very Happy
By lukasbradley on 2/1/2008 3:30:33 PM , Rating: 2
I admit that I had some problems getting their one-click payment processing to work.

I'm also willing to admit that I was so starved for the service they were offering, and waited so long for it, that I'm over looking the problems I had.

Reminds me of Eddie Murphy's joke about being starving, and someone throws you a cracker... feels like the best cracker ever.


RE: Very Happy
By hellokeith on 2/1/2008 3:35:17 PM , Rating: 2
Selection horrible? Wrong. See above comment about Warner & Sony BMG agreements. Amazon MP3 will have a better selection than iTunes very soon. Madonna, Chili Pepper, Kelly Clarkson, Led Zeppelin.. all just added in the last 2 weeks.

Shopping horrible? Wrong. The URL is http://www.amazon.com/mp3
Put your card on file, and buy away. Much easier than iLoons.


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