Stock Watch: Audio Book Club Plans to Launch Portal

Shares of Audio Book Club (AMEX: KLB) climbed more than 10 percent on Thursday, closing up 1-1/6 to 11-3/8, after the company announced that it will launch a “media portal” with a variety of e-commerce offerings. The Web site will be launched in early Summer and located at MediaBuy.com.

It’s probably wise to take a wait-and-see approach on this because this proposed “media portal” doesn’t sound like much more than a shopping mall that offers a wide range of content.

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