Deal Digest: Jan. 31, 2008

Look for updates to these stories and more on TheDeal.com.

Amazon.com Inc.-Audible Inc.

Online retailer Amazon.com said on Thursday that it had reached an agreement to buy Audible, a provider of digital spoken word content, for $300 million in cash.

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The deal, which is expected to close in the second quarter, will expand Amazon's capabilities in digital audio content and enable it to bring Audible's content to a broader audience.

Wilbur Ross  

Billionaire U.S. investor Wilbur Ross is examining whether he should invest in bond insurers, an investment he thinks could be over a billion dollars, he told CNBC on Thursday. Shares in the bond insurers plunged again on Wednesday on signs their credit ratings are dropping.

FCC's spectrum auction  

Meanwhile, The Federal Communications Commission on Thursday is near to receiving its target price for a valuable swath of communications spectrum it is auctioning off. The frequencies are expected to be used for a new wireless broadband service.

 

ING Re (UK) Ltd.

In bankruptcy news, solvent ING Re (UK) Ltd. won recognition of its foreign proceeding Wednesday a week after a British court approved the reinsurer's overseas liquidation plan. - Peter Moreira

 

See TheDeal.com story on Amazon-Audible

See TheDeal.com story on the spectrum auction

See TheDeal.com story on ING Re

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