Storytel buys Ztory, a subscription service for newspapers and magazines. The Ztory application will continue to be operated under the ownership of Storytel and also includes digital children's books. The company started in 2013.
"It does not make sense to increase exposure to good journalism and help reverse the negative trend of newspaper editions making e-newspapers and magazines available to hundreds of thousands of paid subscribers," said Ztory founder, Nima Samimi, in a statement from press
Storytel was founded in 2005 by Jonas Tellander and Jon Hauksson. In 2015, Norstedt's publisher was bought and, in 2017, specialized book publisher, Kontentan. The company has been criticized for offering variable remuneration to book publishers whose audio books offer its subscribers. For example, last year it was revealed that Bonniers gets twice as many as other publishers when users listen to books from them.
It's not known how much Storytel paid for the subscription service.