International law firm Reed Smith has advised on the acquisition of BBC Audiobooks Limited and its UK and US subsidiaries by AudioGo a new company formed for the transaction.

BBC Audiobooks Limited is the leading audio publisher in the UK and was formed in 2001 with the integration of three leading audio businesses BBC Radio Collection, Cover to Cover and Chivers Press. An American business, BBC Audiobooks America is based in Rhode Island USA.

AudioGo is both private equity (Alcuin Capital Partners LLP) and debt finance (National Westminster Bank plc) backed.

The deal was a particularly complex transaction and involved cross-practice teams in both the UK and the US.

The UK team was led by corporate partner Michael Young and media partner Richard Philipps.

Michael Young, Reed Smith's lead corporate partner on the matter, commented:
"This was a particularly interesting deal with which to be involved and played to Reed Smith's transatlantic capability and strong media and technology practice."

Michael Kuhn, Chairman of AudioGo added:
"Complex IP issues and the usual complexity of separating a business from a Group was made easier with the help of the RS team, who understood the challenge of building a business which is being transformed by the internet age."

Field Fisher Waterhouse LLP acted for the seller (BBC Worldwide Limited). Jones Day represented Alcuin and Shoosmiths represented NatWest.

ENDS

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