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Hachette Livre, Albin Michel, France Loisirs to set up a joint audio books' company 

Albin Michel, France Loisirs and Hachette Livre have announced plans to set up a joint company, with a view to publishing and marketing audio books. The operation will be launched following consultation with the appropriate staff representatives.

The audio book market, which accounts for as much as 5% of the book market in Germany and in English-speaking countries, is as yet little developed in France.

The three partners aim to play a decisive role in its growth, by combining the strengths of the Albin Michel and Hachette Livre catalogs, the commercial capacity offered by France Loisirs through its club sales, and the know-how Hachette Livre has acquired in this domain from its experience in the United Kingdom and the USA.

The aim of the company is to publish the audio-format version of books belonging to any publisher wishing to assign their publishing rights.

This initiative will in the first instance draw on the support of bookstores, essential partners in the success of this ambitious project.