“The new Mofibo will be strongly positioned. The new, integrated service will be available for Danish subscribers starting today. The new service will also benefit from the strength and resources of Storytel’s leading international digital platform. Combining the two apps under the name Mofibo will now help Storytel sharpen and strengthen its enormous investment in the Danish market. Less than three years ago, Storytel acquired Danish audio- and e-book distributor Mofibo. Among other benefits, Danish subscribers will enjoy better service, greater functionality, and more than twice as many titles. Forlagið also sells books directly to consumers via its online store and one retail store in Reykjavík.Since 2016, Storytel has had a leading role in the Danish audio-book market through its two wholly owned platforms Storytel and Mofibo.Īs of today, both of Storytel Denmark’s two apps will appear under the brand name Mofibo. It is the largest publisher of books in Icelandic, and publishes printed books, audio books and e-books. Storytel operates in over 20 markets worldwide and is headquartered in Stockholm, Sweden.įorlagið is an Icelandic publishing house. Storytel’s publishing business area is carried out through the audiobook publisher StorySide and Nordic publishing houses such as Norstedts, People’s Press and Gummerus. Storytel’s streaming business is operated under the brands Storytel and Mofibo. Storytel is an audiobook and e-book streaming and publishing company. ICA will subsequently examine whether there is a reason to compile and publish selected insights and information regarding the markets for books in Icelandic obtained during the investigation. Therefore, there is no need for the Authority to adopt a formal decision regarding the merger. On 21 December 2020, ICA received a letter from the merging parties stating that the merger notification had been withdrawn. The merging parties were given the utmost opportunity to object, present further observations and suggest remedies. ICA considered that intervention might be necessary. On 27 November 2020, ICA published a Statement of Objections to the merging parties, describing the preliminary view of the authority that the merger would distort competition in markets for books in Icelandic, particularly for publication of printed books and audio books as well as sales of audio books to consumers. ICA received comments from various market participants, competitors, and writers, many of whom expressed concerns about the merger and its impact on competition in the relevant markets. The Icelandic Competition Authority (ICA) has recently had under investigation Storytel AB's proposed acquisition of 70% of Forlagið’s share capital, but the merging parties notified the merger in accordance with Icelandic competition law.ĭuring the investigation, ICA obtained information from the merging parties, as well as other stakeholders active in the relevant markets. Storytel AB withdraws merger notification regarding its acquisition of a 70% share in Forlagið
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