Amazon Acquires Avalon, Adds More Titles To Its Books Business
Amazon (NASDAQ:AMZN) has acquired Avalon Books, a small publisher of books which specializes in romance, mystery and western genres. Amazon will get publishing rights to Avalon’s entire catalog of more than 3,000 titles. With acquisitions like these, Amazon continues to expand its catalog of books in both print and digital formats. [1]
Philip Patrick, Director, Business Development, Rights and Licensing, Amazon said:
“Avalon has a long tradition in publishing wonderful stories that affirm a positive way of life. We are thrilled to have these talented writers join our publishing program. None of these titles have been digitized yet and we know Kindle customers will delight in this great new offering.”
Amazon is the leader in online bookselling business and also controls a dominant share of the e-book market. We currently have a $220 Trefis price estimate for Amazon, which stands marginally above its market price.
Books, DVDs and Music account for more than 20% of its overall value. Amazon competes primarily with Google (NASDAQ:GOOG), Apple (NASDAQ:AAPL) and some traditional book publishing houses in the space.
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Notes:- Amazon acquires 62-year-old publisher Avalon Books, PaidContent [↩]