Today BBC Worldwide broke the news that it has sold 85 percent stake in BBC Audiobooks to AudioGo. AudioGo was founded by Michael Kuhn, and consists of a group of investors he assembled with his partners.
The sale includes the Rhode Island based BBC Audiobooks America. BBC Audiobooks America will now be traded as AudioGo, but the company will still publish content from the BBC in the BBC Audio imprint.
BBC Worldwide CEO John Smith had this statement: “I’m pleased to announce the successful conclusion of the sale process we initiated last year. BBC Worldwide will remain a shareholder in the business, and looks forward to participating in its future success. Sale proceeds will be reinvested in our international businesses, supporting future returns to the BBC.”