Private Equity’s $25M Bet on Audio and Thomas Greanias

14
Jan

34th degree Tantor

The New York Times reports that private equity-owned Recorded Books has acquired audio publisher Tantor Media’s catalog of approximately 5,000 titles, including some by New York Times bestelling novelist Thomas Greanias, for “about $25 million.”

Private equity firm Wasserstein & Co. acquired Recorded Books last year from Haights Cross Communications along with HighBridge Audio from Workman Publishing.  The two were then folded into Recorded Books.

“I predict we’ll see a lot more these deals as publishers begin to verticalize and securities libraries across the industry,” Greanias said, confirming that his critically acclaimed novel The 34th Degree is included in the deal.

“Since 200 Tantor has strived to partner with leading authors around the world and deliver their content in new and exciting ways,” said Tantor co-founder and ceo Kevin Colebank.  “The combination creates an exciting opportunity to accelerate our growth, enhance our capabilities and gain access to greater resources.”

Recorded Books president and ceo Rich Freese added, “Tantor’s long-standing relationships with leading publishers and authors has driven its strong growth and built one of the industry’s leading catalogs of audiobooks. By utilizing and further developing Tantor’s proprietary recording capabilities, Recorded Books will be able to increase both our publishing speed and volume.”

 

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