Investment firm KKR has agreed to acquire audiobook publisher and related spoken content RBmedia from Shamrock Capital. Financial details of the transaction were not disclosed.
However, according to WSJ, an investment firm estimates consumers will spend $900 million on audiobooks in 2018.
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RBmedia is the largest independent publisher of audiobooks in the world. The company’s catalog carries more than 35,000 titles spanning all genres – from romance to business to sci-fi, best-sellers, to award winners and emerging works.
The audio company distribution technology reaches millions of consumers directly through Audiobooks.com, and RBDigital, a cloud-based digital media platform for libraries and library patrons.
RBmedia reaches consumers through distribution agreements with an array of platform partners such as Audible, Google, and Rakuten.
