TITLE

Amazon to Buy Audible for $300M

AUTHOR(S)
Medford, Cassimir
PUB. DATE
January 2008
SOURCE
Red Herring;1/31/2008, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that audio books seller Audible.com will be acquired by online retailer Amazon.com for approximately $300 million in cash and short-term investment. The acquisition is expected to add distribution and format flexibility to Amazon which still primarily sells hard-copy books, compact discs, and DVDs by mail. Amazon has also made moves with major music labels to free its music download business of copy protection restrictions. The acquisition is subject to regulatory approvals and is expected to close by the second quarter of 2008.
ACCESSION #
36962080

 

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