Amazon has entered into an agreement to purchase Audible.com. The purchase is valued at $300 Million and will allow Amazon to drastically expand its digital audio offerings.

Audible is pretty much the biggest name in audiobooks and this purchase would put Amazon right next to iTunes in the online digital audio market.

This keeps me wondering about the audiobook offerings in iTunes, since all of them are provided by Audible. Although I doubt Amazon will pull the plug on the partnership any time soon it wouldn’t surprise me if they ended it in a few years down the line when the online audio market is a little bit more profitable and the competition between Amazon and iTunes will undoubtedly heat up.

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