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Old 01-31-2008, 10:03 AM   #1
Nate the great
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Amazon to Acquire Audible.com

Amazon.com today announced that it has reached an agreement to acquire Audible Inc.

Audible.com is the leading online provider of premium digital spoken word audio content, specializing in digital audio editions of books, newspapers and magazines, television and radio programs and original programming. Through its web sites in the US and UK and alliances in Germany and France, Audible.com offers over 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.

"Audible.com offers the best customer experience, the widest content selection and the broadest device compatibility in the industry," said 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."

"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."

In recent months, Amazon has announced a number of innovations in the digital space, including Amazon Kindle, a revolutionary wireless portable reader that provides instant wireless downloads of more than 90,000 books, blogs, magazines and newspapers to a crisp, high-resolution electronic paper display.

Under the terms of the agreement, Amazon.com will commence a cash tender offer to purchase all of the 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 which includes Audible.com's cash and short-term investments at closing.

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

from:
http://phx.corporate-ir.net/phoenix....cle&id=1102510
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Old 01-31-2008, 12:30 PM   #2
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Well, nuts. There goes my dream of Audible books on my Sony Reader, I guess.
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Old 01-31-2008, 01:08 PM   #3
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That's the first thing i thought too!
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Old 01-31-2008, 02:34 PM   #4
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Wow. Amazon goes electronic. It's undeniable now.
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Old 01-31-2008, 03:01 PM   #5
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I've been an Audible member since '04. I wonder what if anything Amazon will change. Audible stuff's been available through Amazon's site for a few years now.
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Old 01-31-2008, 03:07 PM   #6
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Amazon's prices have been a bit higher, though. I hope that doesn't become the norm.
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Old 01-31-2008, 03:10 PM   #7
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Originally Posted by NatCh View Post
Amazon's prices have been a bit higher, though. I hope that doesn't become the norm.
I guess I've never noticed that. I've got a membership so most of my buys are using the monthly credits you get. Any other time I've bought right from Audible for the discounted member price. I also hope the higher prices don't become standard.
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Old 02-01-2008, 06:10 AM   #8
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I've been an Audible member since '04. I wonder what if anything Amazon will change. Audible stuff's been available through Amazon's site for a few years now.
That was my first thought as well, I use Audible fairly often and am a member, I dont really want to see any changes there except the annoying message that come up when I have read a blurb on a book, click on it only to be told "we are not authorized to sell this title in your location"
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Old 02-01-2008, 09:33 AM   #9
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Can't wait to see Apple's reaction to this. Audible books are available in iTunes, and I believe iTunes sales are about 1/3 of Audible's revenue.
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Old 02-03-2008, 01:55 PM   #10
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Amazon would have to be crazy to do anything to affect the iTunes/iPod sales of audiobooks. Has to be "big bucks" for them.
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Old 02-03-2008, 02:28 PM   #11
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Amazon would have to be crazy to do anything to affect the iTunes/iPod sales of audiobooks. Has to be "big bucks" for them.
Oh, agreed. The question is what Apple will do.
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