Amazon to Acquire Audible.com

Nate the great · 01-31-2008, 09:03 AM

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

NatCh · 01-31-2008, 11:30 AM

Well, nuts. There goes my dream of Audible books on my Sony Reader, I guess.

grimo1re · 01-31-2008, 12:08 PM

That's the first thing i thought too!

Alexander Turcic · 01-31-2008, 01:34 PM

Wow. Amazon goes electronic. It's undeniable now.

AnemicOak · 01-31-2008, 02:01 PM

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.

NatCh · 01-31-2008, 02:07 PM

Amazon's prices have been a bit higher, though. I hope that doesn't become the norm.

AnemicOak · 01-31-2008, 02:10 PM

Quote:

Originally Posted by NatCh

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.

sianon · 02-01-2008, 05:10 AM

Quote:

Originally Posted by AnemicOak

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"

DMcCunney · 02-01-2008, 08:33 AM

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.
______
Dennis

HarryT · 02-03-2008, 12:55 PM

Amazon would have to be crazy to do anything to affect the iTunes/iPod sales of audiobooks. Has to be "big bucks" for them.

DMcCunney · 02-03-2008, 01:28 PM

Quote:

Originally Posted by HarryT

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.
______
Dennis

01-31-2008, 09:03 AM	#1
Nate the great Sir Penguin of Edinburgh Posts: 12,375 Karma: 23555235 Join Date: Apr 2007 Location: DC Metro area Device: Shake a stick plus 1	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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01-31-2008, 11:30 AM	#2
NatCh Gizmologist Posts: 11,615 Karma: 929550 Join Date: Jan 2006 Location: Republic of Texas Embassy at Jackson, TN Device: Pocketbook Touch HD3	Well, nuts. There goes my dream of Audible books on my Sony Reader, I guess.

01-31-2008, 12:08 PM	#3
grimo1re Geekette Posts: 435 Karma: 3335 Join Date: Sep 2006 Location: NSW, Australia Device: Sony Reader PRS500, PocketBook 360	That's the first thing i thought too!

01-31-2008, 01:34 PM	#4
Alexander Turcic Fully Converged Posts: 18,171 Karma: 14021202 Join Date: Oct 2002 Location: Switzerland Device: Too many to count here.	Wow. Amazon goes electronic. It's undeniable now.

01-31-2008, 02:01 PM	#5
AnemicOak Bookaholic Posts: 14,391 Karma: 54969924 Join Date: Oct 2007 Location: Minnesota Device: iPad Mini 4, AuraHD, iPhone XR +	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.

01-31-2008, 02:07 PM	#6
NatCh Gizmologist Posts: 11,615 Karma: 929550 Join Date: Jan 2006 Location: Republic of Texas Embassy at Jackson, TN Device: Pocketbook Touch HD3	Amazon's prices have been a bit higher, though. I hope that doesn't become the norm.

02-01-2008, 08:33 AM	#9
DMcCunney New York Editor Posts: 6,384 Karma: 16540415 Join Date: Aug 2007 Device: PalmTX, Pocket eDGe, Alcatel Fierce 4, RCA Viking Pro 10, Nexus 7	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. ______ Dennis

02-03-2008, 12:55 PM	#10
HarryT eBook Enthusiast Posts: 85,544 Karma: 93383043 Join Date: Nov 2006 Location: UK Device: Kindle Oasis 2, iPad Pro 10.5", iPhone 6	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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