Amazon.com, Inc. is diving deeper into the digital content delivery business with word today that the online retailer is purchasing Audible.com for about $300 million. Audible.com is one of the Web's largest sellers of audiobooks, newspapers and magazines, as well as other spoken word content like radio shows and original programming.
According to a statement announcing the deal, more than 80,000 programs, including audiobooks from well-known authors such as Stephen King, Thomas Friedman and Jane Austen, and spoken word audio content from sources including The New York Times, The New Yorker, Fresh Air and Charlie Rose, will now be available from Amazon.com.
"Audible.com offers the best customer experience, the widest content selection and the broadest device compatibility in the industry," says Steve Kessel, Amazon.com's Senior Vice President for Worldwide Digital Media. "Working together, we can introduce more innovations and bring this format to an even wider audience."
The move solidifies Amazon's position as the largest and most diverse book dealer on the Internet, offering enormous selections in both e-Reader (through it's new Kindle reader) and now audiobook format.
The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by the second quarter of 2008.
For more information, visit www.amazon.com.
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