BBC Worldwide is looking for growth in overseas revenue. It is looking to secure enough to make it up to two-thirds of its total revenue. This came about after BBC Trust told Worldwide’s management to reduce its focus on the UK markets and adventure into BBC’s intellectual property abroad.
A major move toward its new objective was the sell of 85 per cent of its shares in BBC Audiobooks. The purchase was completed by AudioGo, a new private company owned by film producer Michael Kuhn.
“I’m going to continue with film but with films you have huge downtime,” said Mr Kuhn. “This is an exciting business right at the forefront of the new world of digital downloads.”
The amount of the deal between BBC Worldwide and AudioGo was not disclosed. The finds from the sale will be reinvested in BBC Worldwide’s international business interests.