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Amazon has agreed to buy audiobook retailer Audible.com in a deal valued at about $300 million.
The move expands Amazon’s push into digital content and boosts its competition with Apple, the Wall Street Journal writes.
Audible, which sells thousands of audiobooks that can be down downloaded and played on computers or MP3 devices, supplies the audiobooks that are sold on Apple’s iTunes.
Amazon recently purchased the Kindle, a company which sells a wireless reading device. Sales of the device are outpacing expectations, Amazon said yesterday.
The announcement of the deal comes the day after Amazon reported strong fourth-quarter profit growth and a 42 percent rise in revenue, writes Reuters. Shares dipped after-hours, however, on concerns about the company’s profit margins.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Time magazine ousted Cosmo as the top magazine for college students in this year’s Anderson Analytics fall survey.
Time also jumped past People, which was last year’s No. 2, writes Ad Age. A Time spokesperson said the magazine did not run…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
