The French digital kiosk Cafeyn wants to acquire the activities (outside of Scandinavia) of its Swedish competitor Readly, owner since last year of the other French pioneer in the sector, ePresse, to create “a European champion of information streaming”.
This operation would be carried out in several stages. First, another Swedish media group, Bonnier News Group AB, has just filed “a recommended takeover bid” for Readly International, “one of Europe’s leading digital subscription services,” Cafeyn explains in a press release published on Monday.
More than 7000 publications worldwide
In parallel, Cafeyn and the Bonnier group “have reached an agreement to transfer Readly’s non-Scandinavian activities to Cafeyn, subject to the completion of the transaction,” it specifies.
If necessary, Cafeyn would do so with ePresse, approved in October 2021 within Readly, which has subscribers in some fifty countries and claims to offer content in 17 languages.
In all, the “combined platform” desired by Cafeyn would bring together “more than 7,000 publications worldwide,” while allowing “publishers to monetize their content with a broader audience,” according to the press release.
As for the social consequences of the deal, Cafeyn and Bonnier News Group say they are “determined to be able to offer jobs to the largest number of Readly employees concerned about the integration of non-Scandinavian business.”
Towards a multi-format platform
The offer acceptance period runs from December 8 to January 13, 2023. It is part of a movement to consolidate the sector, already illustrated in 2020 with the takeover of the Dutch Blendle by Cafeyn.
Launched in 2006 under the name LeKiosk, Cafeyn provides access to digitized versions of many newspapers for €9.99 per month or through content packs.
Recently, with the departure of several emblematic titles such as L’Equipe, Le Point or Ouest France, the platform has since welcomed other media, such as AFP and RTL.
It aims to become a multi-format platform, with a particular focus on audio.
“Growing and profitable,” according to founder Ari Assuied, Cafeyn has more than 2.5 million users in nine countries, access to “nearly 3,000 newspapers, magazines, news sources and other brand content from” websites, and employs to more than 200 people.
Source: BFM TV
