Online retailing giant Amazon.com said today that it will purchase audiobook seller Audible in a deal valued at $300 million. Amazon is expected to offer Audible's digital audio content, which includes newspapers, magazines, and radio shows in addition to books, alongside other digital content it now sells, including digital music, movies, software, and more.
"Audible.com offers the best customer experience, the widest content selection and the broadest device compatibility in the industry," says Amazon senior vice president Steve Kessel. "Working together, we can introduce more innovations and bring this format to an even wider audience."
While Amazon had spent years moving into traditional retailer markets, the past year has seen enormous growth on the digital side. In late 2007, the company introduced its Kindle e-book reader, and Amazon MP3 is already the leading service for legal, unprotected music, despite being open for less than a year.