BBC invites bids for Audiobooks arm as it focuses on bigger investments

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The BBC has invited bids for its Audiobooks division, believed to be worth £20m to £30m.

An information memorandum was sent to potential bidders last week, but it is understood that the corporation intends to keep a minority stake in Audiobooks, which includes The Mighty Boosh in its portfolio.

The BBC, advised by big-four accountancy firm KPMG, is selling the arm as it has prioritised investment in bigger areas of the corporation.