MUMBAI: BBC Worldwide has completed the sale of an 85 per cent shareholding in BBC Audiobooks (including BBC Audiobooks America) to AudioGo.

BBC Worldwide will retain a 15 per cent stake in the business.

Following the sale, BBC Audiobooks will trade as AudioGo, and will continue to publish BBC-sourced content under the BBC Audiobooks imprint.

Formed in 2001, BBC Audiobooks is the leading audio publisher in the UK. Its products are available on CD and in downloadable formats for retail and library markets.

BBC Worldwide CEO John Smith says, "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, and therefore benefiting the licence fee payer."

AudioGo chairman Michael Kuhn says, "The partners in AudioGo are committed to building on the past achievements of BBC Audiobooks as it enters the digital age. Opportunities are many and exciting and we will immediately get to it with Managing Director Mike Bowen and his team, and in partnership with BBC Worldwide, to create new offerings to our customers worldwide."

BBC Audiobooks is best known for publishing landmark recordings and bestsellers including Under Milkwood (Richard Burton), The Hitchhiker's Guide to Galaxy, Winnie the Pooh (Alan Bennett), I'm Sorry I Haven't A Clue and the recent BBC Radio 4 John Le Carre dramas.

BBC Audiobooks last year recorded its one millionth download purchase, reflecting a 30 per cent growth in digital sales from the previous year. This digital growth has helped the business secure wide visibility with audiences and fans online.

MUMBAI: BBC Worldwide has completed the sale of an 85 per cent shareholding in BBC Audiobooks (including BBC Audiobooks America) to AudioGo.

BBC Worldwide will retain a 15 per cent stake in the business.

Following the sale, BBC Audiobooks will trade as AudioGo, and will continue to publish BBC-sourced content under the BBC Audiobooks imprint.

Formed in 2001, BBC Audiobooks is the leading audio publisher in the UK. Its products are available on CD and in downloadable formats for retail and library markets.

BBC Worldwide CEO John Smith says, "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, and therefore benefiting the licence fee payer."

AudioGo chairman Michael Kuhn says, "The partners in AudioGo are committed to building on the past achievements of BBC Audiobooks as it enters the digital age. Opportunities are many and exciting and we will immediately get to it with Managing Director Mike Bowen and his team, and in partnership with BBC Worldwide, to create new offerings to our customers worldwide."

BBC Audiobooks is best known for publishing landmark recordings and bestsellers including Under Milkwood (Richard Burton), The Hitchhiker's Guide to Galaxy, Winnie the Pooh (Alan Bennett), I'm Sorry I Haven't A Clue and the recent BBC Radio 4 John Le Carre dramas.

BBC Audiobooks last year recorded its one millionth download purchase, reflecting a 30 per cent growth in digital sales from the previous year. This digital growth has helped the business secure wide visibility with audiences and fans online.