Amazon.com to Buy Audible.com for $300M
Amazon.com to Buy Audible.com for $300M
by , 10:40 AM EST, January 31st, 2008
Online retailer Amazon.com announced on Thursday plans to acquire Audible.com for about US$300 million. The deal will make Amazon.com the largest distributor of spoken word audio content on the Web.
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The two companies agreed to a deal where Amazon.com will purchase Audible.com's outstanding shares for $11.50 per share and will assume the company's outstanding stock-based awards. The transaction is expected to be completed by the end of the second quarter of 2008.
Amazon.com has not stated if there are plans to add Audible.com support to its Kindle ebook reader, or if there will be any changes to Audible.com's distribution deal through Apple's iTunes Store.
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