Amazon’s Audible buys a provider of comic content
October 28, 2014 04:14 PM
Oct. 27 (Bloomberg) -- Amazon.com Inc.’s Audible Inc. unit bought Rooftop Media Inc., a distributor of audio and video programming online, in an effort to increase its digital content.
Audible, which has a library of more than 100,000 audio programs from more than 1,800 sources, has been seeking to add content and was attracted to Rooftop’s comedic offerings, Audible CEO Donald Katz said in an e-mailed statement. The Newark, New Jersey-based company declined to disclose the deal’s terms.
“Audible is obsessed with producing incredible programming,” Rooftop CEO Will Rogers said.
The deal was earlier reported by Reuters.
Amazon has been ramping up the entertainment it provides, including original television programming and streaming of movies, as it works to attract more users. Amazon offers much of the content as a perk to members of its $99-a-year Prime fast- shipping program. Audible, which Amazon purchased in 2008, is the biggest audio content provider on Apple Inc.’s iTunes store, according to the company’s website.
Earlier today, Amazon unveiled a media-streaming device called Fire TV Stick that plugs into a TV set to let users browse video and music from Netflix Inc., Hulu LLC and Pandora Media Inc.
Amazon last week reported its biggest quarterly loss since at least 2003 and also forecast sales and profit for the current holiday quarter that missed analysts’ projections.