Amazon.com, Audible combine

By Lisa Kerner

Charlotte, N.C., March 19 - Audible, Inc. is now a wholly owned subsidiary of Amazon.com, Inc. following Amazon.com's completed acquisition of the company.

All remaining outstanding Audible shares were converted into the right to receive $11.50 per share in cash, according to an Amazon.com news release.

Amazon.com's subsequent offering period for Audible's shares ended on Friday.

On Jan. 31, Amazon.com, a Seattle-based internet retailer, announced it would acquire Audible for $11.50 per share in a deal valued at some $300 million.

Audible specializes in digital audio editions of books, newspapers, magazines, television programs, radio programs and original programming. The Newark-based company offers over 80,000 programs through its web sites worldwide.

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