January 31, 2008 / 12:21 PM / 11 years ago

Amazon.com to buy Audible.com for $300 million

NEW YORK, Jan 31 (Reuters) - Online retailer Amazon.com (AMZN.O) said on Thursday that it had reached an agreement to buy Audible.com ADBL.O, a provider of digital spoken word content, for $11.50 a share.

Amazon values the transaction at about $300 million, including Audible.com’s cash and short-term investments.

Shares of Audible closed on Wednesday at $9.33 on Nasdaq. (Reporting by Franklin Paul; Editing by Lisa Von Ahn)

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