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Amazon.com Plans Audio Book Download Store

Posted on: Friday, 3 June 2005, 18:00 CDT

SEATTLE -- On its Web site, Amazon.com Inc. is asking publishers for audiobooks for a new download store it says it plans to open. But the Internet retailer is being coy about such key details as a launch date.

The Seattle-based company declined to say Friday when any such sales would start or how it would affect its partnership with Audible Inc., the industry-leader in sales of audio versions of books and other publications.

"We never say if or when we're going to be launching a store until we launch it," Amazon spokeswoman Patty Smith said.

News of Amazon's request sent shares of Wayne, N.J.-based Audible down 12.9 percent, or $2.15, to close at $14.48 on the Nasdaq Stock Market. Amazon shares fell 82 cents, or 2.3 percent, to $35.59.

For the last five years, Amazon.com customers have been able to click on a link that directs them to Audible's Web site, allowing book downloads that can be played on computers or mobile devices.

Under a deal reached in 2000, Amazon acquired a 5 percent stake in Audible. In turn, Audible agreed to pay Amazon $30 million over three years for its promotion of Audible content.

Barnes & Noble Inc., Amazon's chief competitor in online book sales, does not offer book downloads. A company spokeswoman did not return a call Friday seeking comment on whether it plans to do so.

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On the Net:

Amazon.com: http://www.amazon.com  

Audible.com: http://www.audible.com

Source: Associated Press/AP Online

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