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Amazon pays $300 million for Audible

1 February 2008 16:53 by Andre "DVDBack23" Yoskowitz | 5 comments

Amazon has announced it plans to buy out Audible for about $300 million USD, expanding the company's interests in the digital audio market. Those familiar with the acquisition say the purchase will include all of Audible's cash and short-term investments.

For those unfamiliar, Audible offers a huge range of audio books from popular authors alongside a large library of newspapers, television and radio programs, magazines, and original programming. In the US, Germany and the UK, the site hosts about 80,000 programs.

"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."

The deal, which should close by mid-year 2008, will help Amazon in its recent trend of moving into the digital audio market, following the glaring success of Amazon MP3.

Permalink to this article | Topic: MP3 & Digital Audio

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Discuss this article!
Moomoo2 (Member) 1 February 2008 19:55
Shrug I'm an Audible member. [ + quote]
b18bek9 (Member) 1 February 2008 21:28
funny this merge goes thru like clock work yet sirius and xm have been waiting a year to merge which is the longest merger in history why chevron an texxaco merge in weeks .... weird .... [ + quote]
foxrider (Senior Member) 2 February 2008 2:46
dude rad. now i can buy paper AND electronic books off amazon [ + quote]
bbruere (Newbie) 2 February 2008 9:30
I buy hard copy books from both Amazon and DoubleDay and just purchased my first Audible book from Audible for my new Insignia Pilot. I wonder, how the merger will affect DoubleDay? They offer links to Audible books. //BBB [ + quote]
borhan9 (AfterDawn Addict) 22 February 2008 18:57
Amazon is another version of ebay. [ + quote]