Los Angeles – July 25, 2018 – Cooley advised digital audiobook producer RBmedia on its agreement to sell to KKR. The global investment firm will acquire RBmedia from Shamrock Capital, with financing primarily from its KKR Americas XII fund. Additional financial details were not disclosed. Partner Ray LaSoya led the Cooley team advising RBmedia.
“This is an exciting time for RBmedia as audiobooks are the fastest growing segment in the digital publishing industry today,” said Tom Maclsaac, president and CEO of RBmedia, in a news release. “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.”
Cooley previously advised RBmedia on its acquisition of spoken audio publisher Gildan Media.
RBmedia is the largest independent publisher of audiobooks in the world with a catalogue of more than 35,000 titles spanning all genres – from romance to business to sci-fi – with thousands of works being added each year.
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