BBC Worldwide have sold 85% of BBC Audiobooks to AudioGo, a company set up by a former senior executive at Polygram, Michael Kuhn.
BBC Audiobooks currently publish a number of Doctor Who titles including the new Tom Baker series Demon Quest, narrations of Classic and current Doctor stories and the Doctor Who at the BBC series.
The deal is thought to be the first of several disposals of assets considered non-core by BBC Worldwide. BBC Magazines, which publishes titles such as Doctor Who Adventures and Radio Times, is expected to form part of this process.
A spokesman for BBC Worldwide said that the deal, which is thought to be in the region of £10m to £15m, "secures the future of the business and its staff"