Amazon buys Audible.com in $300 million cash deal

Share this article:
Amazon lets consumers shop via text
Amazon lets consumers shop via text

Amazon.com has reached an agreement to acquire digital book provider Audible Inc. in a $300 million cash deal.

Under the terms of the agreement, Amazon.com will purchase all outstanding shares of Audible.com for $11.50 per share and will assume Audible.com's outstanding stock-based awards, for an aggregate transaction value of approximately $300 million. This includes Audible.com's cash and short-term investments at closing.

“Audible.com offers the best customer experience, the widest content selection and the broadest device compatibility in the industry,” said Drew Herdener, senior public relations manager at Amazon.com. “Together, we believe we can introduce more consumers to the benefits of the digital audiobook experience.”

This move comes after Amazon's move into the digital book space, with last fall's debut of the Amazon Kindle, an electronic book reading device.

Audible.com sells digital spoken word audio content, including digital audio editions of books, newspapers and magazines, television and radio programs. Its content offering includes more than 80,000 programs, including audiobooks from authors such as Stephen King and Jane Austen, and spoken word audio content from sources including The New York Times, The New Yorker and Charlie Rose. Audible.com will continue to function as an independent company under the continued leadership of Don Katz.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by the second quarter of 2008.

Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Pet World's Multichannel Marketing Is a Whole Other Animal

Pet World's Multichannel Marketing Is a Whole Other ...

The family owned pet store redesigns its website to bring the in-store experience online.

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.