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Time Warner Joins Other Key Publishers in Audio Download Deal

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July 15-31, 2005 Edition

Time Warner Joins

Other Key Publishers

in Audio Download Deal

NEW YORK, NY/07/08/05—Time Warner AudioBooks has joined Simon & Schuster, Random House and two other audio book publishers in a deal with MediaBay to launch an online stor front for audio books. The site, in which Larry King is involved, will be unveiled late this summer, according to an item in New York Business on July 7.

The launch of MediaBay likely will make a huge leap in the availability of audio book downloads online. Digital download sales still represent only about 4% of the billion dollar audio book segment, but the category is also the fastest growing in the book business, expected to grow 30 to 40% in the next five years, according to Jeff Dittus, chief executive of MediaBay.

The Time Warner AudioBooks list includes works by John LeCarré, Nelson DeMille, Jon Stewart and David Sedaris, according to the New York Business story at http://www.newyorkbusiness.com/news.cms?id=11090