Amazon Buys Fiction Publisher Avalon

The company will produce digital versions of catalog for Kindle

   

Amazon Buys Fiction Publisher Avalon

Amazon (NASDAQ:AMZN) has acquired another traditional print publisher. The Internet retailing giant announced on Monday that it has purchased Avalon Books, a publisher specializing in Westerns, romances and mysteries.

Included in the purchase is Avalon’s catalog of 3,000 published books, which have not yet been converted to digital format, CNNMoney noted. Amazon will likely release digital versions of Avalon’s catalog and current titles for its Kindle ebook reader.

kindle Amazon Buys Fiction Publisher Avalon
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The company declined to reveal the price of the acquisition. Avalon joins seven other imprints owned by Amazon, which entered the print business in 2009.

In addition to acquiring publishers, Amazon has been purchasing the rights to major book titles, including the U.S. rights to Ian Fleming’s famed James Bond spy novels and various children’s books.

In late Tuesday trading, Amazon shares slipped about 1% to $213.


Article printed from InvestorPlace Media, http://investorplace.com/2012/06/amazon-buys-genre-fiction-publisher-avalon/.

©2014 InvestorPlace Media, LLC

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