Shamrock Capital Completes Sale of RBmedia to KKR
LOS ANGELES--(BUSINESS WIRE)--Aug 31, 2018--Shamrock Capital, a Los Angeles-based investment firm, today announced that it has completed the sale of its portfolio company, RBmedia, the largest independent publisher of audiobooks in the world, to KKR. Terms of the transaction were not disclosed.
“RBmedia has built a tremendous company in a market that is poised for sustained growth,” said Mike LaSalle, Partner at Shamrock Capital. “As the company embarks on the next phase of its evolution with KKR, we wish them all the best and thank them for their collaboration and partnership over the past three years.”
RBmedia is a global leader in spoken audio content and digital media distribution technology that reaches millions of consumers—at home, in the car, and wherever their mobile devices take them. RBmedia produces exclusive titles and delivers the finest digital content—including audiobooks, streaming video, educational courses, entertainment titles, and much more. Headquartered in Landover, Maryland, RBmedia comprises an ever-expanding group of the best brands in spoken audio content and digital media distribution technology. Find out more at www.rbmediaglobal.com.
About Shamrock Capital
Shamrock is a Los Angeles-based investment firm with approximately $1.9 billion of assets under management, investing exclusively in the media, entertainment, and communications sectors. Shamrock was originally founded in 1978 as the family investment company of the late Roy E. Disney and has since evolved into an institutional money manager with a leading group of investors including endowment and pension funds. Shamrock partners with strong management teams and takes an active, collaborative approach to creating value in each investment. Shamrock’s current investments include Appetize, Branded Cities, BTI Studios, FanDuel, INgrooves Music Group, Maple Media, Mobilitie, Omega Wireless, Questex, Screenvision Media, Silvergate Media, and Wpromote. For more information, visit: shamrockcap.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180831005404/en/
CONTACT: Shamrock Capital
Mickey Mandelbaum, 212-279-3115
Jaimee Pavia, 212-279-3115
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA MARYLAND
INDUSTRY KEYWORD: ENTERTAINMENT TECHNOLOGY CONSUMER ELECTRONICS MOBILE/WIRELESS COMMUNICATIONS BOOKS PUBLISHING MOBILE ENTERTAINMENT
SOURCE: Shamrock Capital
Copyright Business Wire 2018.
PUB: 08/31/2018 01:20 PM/DISC: 08/31/2018 01:20 PM