Fox Sports is bringing a book publisher that has been selling e-book editions to Amazon for a $1 billion deal.
The deal is the first in a string of book acquisitions Amazon has made over the past two years.
Amazon is looking to become a more mainstream bookseller and to expand its business with new book formats like audiobooks and e-reader devices.
The Amazon Publishing Group, the division of the company that manages the publishing division of Amazon, announced the deal Tuesday, saying it will add more than 50 titles to its e-reading lineup by the end of 2020.
Amazon said it will pay the publishing group $1,300 per title for the rights to make the titles available in Amazon’s own e-readers and other devices.
The deal also includes the rights for the titles to be sold directly through Amazon and the publishing company will continue to own the rights.
“We believe this acquisition will accelerate the transition to Amazon Prime and the fulfillment of millions of titles through Amazon’s Prime service,” Amazon Publishing’s CEO Eddy Cue said in a statement.
“By expanding the digital distribution of Amazon’s titles, the Amazon Publishing group is creating an opportunity to grow Amazon’s e-commerce business, which is driving more than one billion dollars in sales annually.
We are delighted to be part of this incredible and growing company and look forward to helping our partners continue to create the next generation of books.”
The publishing group includes Barnes & Noble, Eerdmans, HarperCollins, Simon & Schuster, Simon and Schuster Children’s, Random House Children’s and The Knopf.
The deal is subject to approval by Amazon.
Amazon is looking at creating an Amazon Prime division that will focus on e-content distribution and has been negotiating with major publishers to include their books in the service.
The publisher is also looking at a “shared platform” model where publishers could sell the titles through a number of devices.