audible

Amazon.com announced Thursday that it has acquired audiobook company Audible.

The deal comes with a price tag of about $300 million in cash and short-term investments, and it is expected to be completed by the second quarter of this year.

Audible, which was founded in 1997 and operates services in the United States and United Kingdom, as well as operations in Germany and France, sells more than 80,000 audio versions of books, newspapers, and magazines, as well as television and radio content.

"Audible.com offers the best customer experience, the widest content selection, and the broadest device … Read more