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:Press Release 2005:
AUDIBLE AND XM SATELLITE RADIO SIGN EXCLUSIVE TECHNOLOGY, MARKETING AND CONTENT AGREEMENT
Companies to Introduce Portable, Handheld Devices with Integrated XM and Audible Technology, Plus Downloadable XM Talk Content on Audible.com
Wayne, NJ, and Washington D.C., June 07, 2005 -- Audible, Inc. (NASDAQ: ADBL, www.audible.com), the leading provider of digitally delivered spoken-word audio, and XM Satellite Radio (NASDAQ: XMSR), the nation's leading satellite radio service, today announced an exclusive, multifaceted strategic relationship.
XM offers more than 150 digital radio channels of commercial-free music and premier talk radio content for the vehicle, home, and portable use. Audible offers more than 70,000 hours of audio programs from more than 220 content partners, including audiobook publishers, broadcasters, entertainers, and magazine and newspapers publishers, for downloading and playback on computers, iPods and other MP3 players, personal digital assistants (PDAs), and other devices.
In 2006 Audible and XM will introduce the first portable, handheld satellite radio devices that are capable of playing both the XM service as well as Audible's spoken-word content, which can be downloaded from the Web into the devices' memory. With the launch of these "AudibleReady/XM" devices, XM subscribers will be able to expand their listening experience through purchase of audiobooks and other content from Audible.
In addition to these new products, Audible will offer popular XM talk programs via the Audible Web site this year, beginning with The Bob Edwards Show and Opie and Anthony. XM programs will join the more than 45 regularly recurring audio subscriptions available for downloads to users of AudibleReady® digital audio devices at www.audible.com/subscriptions.
Also this year, XM will produce a new Audible audiobook program for broadcast on XM Satellite Radio that will consist of features, interviews, and news focusing on the rich world of audiobooks and other spoken-word listening available at www.audible.com. Audible will co-executive produce the program and offer it for download at Audible.com.
XM and Audible will prominently co-market each other's service. Audible's 70,000 hours of premium spoken-word programming will become available at www.xmradio.com through a co-branded e-commerce boutique for download and transfer to AudibleReady devices. XM will feature Audible on the air, on its Web site, and other channels.
"From Billboard to Smart Money magazine, XM is widely recognized for having the best content and the best technology in satellite radio," said Hugh Panero, President and CEO of XM Satellite Radio. "Audible and XM are the leaders in our respective businesses, so it's logical for us to work together on content distribution and technology."
"This announcement brings together the best of XM Satellite Radio and the best of the Audible audio experience," added Donald Katz, Chairman and CEO, Audible, Inc. "Together our respective technologies will enable the consumer to listen to the finest in radio programming and the best of personalized, spoken-word listening on their portable audio devices."
About Audible Inc.:
Audible® (www.audible.com®) is the Internet's leading premium spoken-audio source. Content from Audible is downloaded and played back on personal computers, CDs, or AudibleReady® computer-based mobile devices. Audible has more than 70,000 hours of audio programs from more than 220 content partners that include leading audiobook publishers, broadcasters, entertainers, magazine and newspaper publishers, and business information providers. Audible.com is Amazon.com's and the Apple iTunes Music Store's preeminent provider of spoken-word products for downloading or streaming via the Web. Additionally, the Company is strategically aligned with Random House, Inc. in the first-ever imprint to produce spoken-word content specifically suited for digital distribution, Random House Audible. Among the Company's key business relationships are Apple Corp., Creative Labs, Hewlett-Packard Company, Microsoft Corporation, palmOne, Inc., PhatNoise Inc., Rio Audio, Sony Electronics, Texas Instruments Inc., and VoiceAge Corporation.
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