Books. Investment firm KKR has agreed to acquire RBmedia – the world’s largest producer of audiobooks and spoken content – from Shamrock Capital. Terms not disclosed. RBmedia has existed only since 2017 but its predecessor Recorded Books (formerly owned by Wasserstein) dates back 40 years. The company whose other content brands include Tantor Media, W.F.Howes and High Bridge, claims 35,000 exclusive titles and its own technology platform. KKR, which estimates the audiobook market will be worth $900m this year (up 20%), says: “Audiobooks create incremental time for enjoying great books, and one thing we lack today is time. We think this type of content will continue to take up more mind-share, especially among younger consumers.” So says Richard Sartnoff, the KKR adviser who was formerly chair of Bertlesman, 75% owner of Penguin Random House. Another reason why this deal is eye-catching.
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KKR buys RBmedia audiobook leader
