Amazon Strengthens Its Digital Hand With $300 Million Purchase of Audible
Amazon is betting big on digital media. This morning it announced the $300 million acquisition of Audible (a 7 percent premium to Audible’s $280 million market cap at the time of this writing). Audible is the leading provider of audio books in digital form, with a library of 80,000 titles. As Amazon begins to generate a greater share of its revenues from digital media, owning a digital publisher will help its margins. It should be able to offer audiobooks at a lower cost, which in…
