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Media

Amazon.com Sees Greatness In Audible (AMZN, ADBL)

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By Douglas A. McIntyre Published
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Audible Inc. (NASDAQ: ADBL) is finally being acquired.  Amazon.com (NASDAQ: AMZN) will pay some $11.50 per share of Audible in an all-cash buyout.  Including Audible’s cash on hand, this transaction is valued at roughly $300 million. 

If any company needed to be acquired in the digital media for books, magazines, newspapers, radio, TV, and other content distribution, it was Audible.  The company has its Audible.com service in the U.S. that has been around since the late-1990’s for subscriptions, and the service also offers sites specifically for the U.K., France, and Germany.

When you consider that Amazon.com is taking on Apple (NASDAQ: AAPL) over iTunes and is launching its Kindle eBook reader, we wouldn’t expect this to be the only small media company that Amazon.com (or others) look at, although not all the buyouts in the sector will be of public companies.

Jon C. Ogg
January 31, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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