Investment in Audiogo
Alcuin is pleased to announce its investment in AudioGo, a new company established to acquire a majority stake in BBC Audiobooks Ltd, from BBC Worldwide. AudioGo was formed by a group of seven investors including former head of PolyGram Films Michael Kuhn, former Rothschild bankers Stephen Louis and Jonathan Scherer, and media investors Mike Ross and Theo Fonternel.
Formed in 2001, BBC Audiobooks is a leading audio publisher in the UK. Its products are available on CD and in downloadable formats for retail and library markets. Following the sale, BBC Audiobooks will trade as AudioGo, and will continue to publish BBC-sourced content under the BBC Audiobooks imprint.
BBC Audiobooks last year recorded its one millionth download purchase, reflecting a 30% growth in digital sales on the previous year. This digital growth has helped the business secure wide visibility with audiences and fans online.
Paul Dempsey, Managing Director of BBC Worldwide’s Home Entertainment division, said: “The partnership with AudioGo Limited, announced today, will enable BBC Audiobooks to develop its catalogue and services under new ownership. This agreement mirrors the successful publishing joint ventures we have put in place for our books businesses.”
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