Last month the UK arm of AudioGO went into administration, which is a fancy way of saying it is officially bankrupt. The assets are being sold off to eliminate the debt and to monetize their audiobook catalog. Audible has announced that they have purchased 5,000 audio editions from the now defunct company.
AudioGO, formerly known as BBC Audiobooks, “owned about 10,000 audiobooks published by the broadcaster, including works by Graham Greene, Arthur Conan Doyle and J.K. Rowling,”
Licensing rights for the titles will transfer to Audible in February, pending approval from affected authors and publishers.Mark Shaw, partner of accountancy firm BDO and a joint administrator for AudioGO, said: “This will ensure continued access to a large portion of the AudioGO library for the consumer, and continuity of royalty payments to authors and publishers.”
Michael Kozlowski is the Editor in Chief of Good e-Reader. He has been writing about audiobooks and e-readers for the past ten years. His articles have been picked up by major and local news sources and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times.