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Sainsbury's buys into eBooks with Anobii takeover

Supermarket chain Sainsbury’s says it’s acquired HMV Group’s shareholding in Anobii Limited for just £1. The deal will give Sainsbury’s a 64% stake in Anobii alongside HarperCollins, Penguin and Random House Group.

Anobii combines a library of over 60,000 eBooks with a 600,000-user social network. Readers are encouraged to rate and review their choices, which can be bought and downloaded to a variety of e-readers as well as Android and iOS devices.

The move sees Sainsbury’s move further into the digital entertainment market following the launch of Sainsbury’s Entertainment in 2010, the acquisition of online entertainment company Global Media Vault in 2011 and the launch of a music download service earlier this year.

Mark Bennett, Sainsbury’s Head of Digital Entertainment, said “Anobii’s innovative use of social media is a clear differentiator. This acquisition is a valuable addition to our digital portfolio and shows our commitment to becoming a key player in the digital entertainment market. It further demonstrates how we are constantly looking to innovate and seize opportunities that will support the future growth of our business. We’re excited about working together with the Anobii team and our fellow shareholders in supporting Anobii to become a leading retailer of e-books.”

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Author: The Fonecast
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