Amazon to buy Mobileread
The Amazon has made a binding offer to purchase Mobilread in exchange for 10,000 shares of Amazon common stock at current market value. Alex Turcic, the owner, will still retain most control. He has also negotiated with Amazon representatives to grant each moderator, who have had enormous impact on the site, 1000 shares of stock each as well.
The transfer of stock and ownership will take place by end of second calendar quarter of 2012.
We anticipate the site will continue as it has before however exclusive titles from the Amazon will also be available in the Mobile Read library to MobileRead prime members.