As per recent sources, KKR, the leading global investment company, is preparing to sell its portfolio company and audiobook publisher RBmedia. The price for the sales is likely to be $2 billion. KKR is known for offering diverse services like alternative asset management, insurance, and capital market solutions. They are renowned for generating high returns through a well-curated and disciplined approach. The company is known for pursuing higher standards of excellence through its services. In 2019, they were said to be turning into a library juggernaut for their acquisitions.
KKR and RBmedia Partnership
KKR acquired RBmedia back in 2018 from Shamrock Capital. Since then, RBmedia has witnessed multiple changes and add-ons, including the Ukemi Audiobooks and Dharma Audiobooks, and during the acquisition of RBmedia by KKR, the President and CEO of RBmedia, Tom MacIsaac, said how it’s an exciting time for the company to partner with KKR. “Audiobooks are the fastest growing segment in the digital publishing industry today,” he said. “We are delighted to partner with KKR to build on that momentum and to expand upon the growth we’ve achieved in the space thus far in partnership with Shamrock,”
The partnership was relatively good news for KKR as well. Richard Sarnoff, the Chairman of Media, Entertainment, and Education for KKR, highlighted how RBMedia is well-positioned to capitalize on the dynamics of audiobooks with “premier audio content that can be flexibly delivered across platforms.”
With over 60,000 audiobooks and 8000 new titles, RBMedia is one of the leading publishers worldwide. They have extensive and powerful digital retail and library distribution so millions can listen to their favourite titles. Its feasibility and seamless accessibility make it appropriate for users as they can access audiobooks wherever they go through mobile phones.
RBmedia Leads the Charts for Audiobook Publishers
RBmedia has consistently topped key literary awards lists with audiobooks for 65 New York Times best sellers. Listeners may also find titles holding national book awards, booker prizes, and Pulitzer prizes. They also feature audiobooks for titles that have been nominees for Grammy. With 8000+ new titles, RBmedia claims to be bigger than the big five traditional audiobook publishers combined. The company also exhibited a record-breaking performance back in 2021.
2021 was the golden year for the company. Not only did they establish exclusive audiobook partnerships, but they also expanded into Spanish and German markets. In 2020, they also purchased GraphicAudio.
While a lot is still unknown about the RBmedia sale, do you think it’s a smart initiative by KKR to sell to the well-known Audiobook publisher?