Wow. Amazon certainly seems to be shaking things up in the digital media space: first MP3's, then the Kindle, now acquiring Audible, the king of the audio book space. I wonder when we will see audio books on the Kindle?

Amazon.com, Inc. (NASDAQ:AMZN), today announced that it has reached an agreement to acquire Audible Inc. (NASDAQ:ADBL).

Audible.com is the leading online provider of premium digital spoken word audio content, specializing in digital audio editions of books, newspapers and magazines, television and radio programs and original programming. Through its web sites in the US and UK and alliances in Germany and France, Audible.com offers over 80,000 programs, including audiobooks from well-known authors such as Stephen King, Thomas Friedman, and Jane Austen, and spoken word audio content from sources including The New York Times, The New Yorker, Fresh Air and Charlie Rose.

"Audible.com offers the best customer experience, the widest content selection and the broadest device compatibility in the industry," said Steve Kessel, Amazon.com's senior vice president for worldwide digital media. "Working together, we can introduce more innovations and bring this format to an even wider audience."