Readly International AB, the Sweden-based digital magazine subscription platform, has officially been delisted from Nasdaq First North Growth Market following Bonnier Group’s acquisition of more than 96% of its shares. The final trading day was June 13, 2025.

Founded in 2012, Readly was one of the earliest platforms to adopt an “all-you-can-read” subscription model for digital magazines and newspapers. Over the years, it expanded to offer more than 8,000 titles across 50 countries and 17 languages, working with roughly 1,000 publishers. Its core markets—Germany, the UK, and Sweden—account for over 80% of revenue.

In 2024, Readly reported SEK 725 million in revenue, a 9.4% year-over-year increase. It also achieved its first full-year adjusted EBITDA profit (SEK 63 million) and turned free cash flow positive (SEK 58.4 million). Subscriber counts remained stable at 427,227 by year-end and 426,525 in Q1 2025, despite strategic divestments in non-core regions.

Bonnier, which had gradually built up its ownership stake, initiated a compulsory redemption of the remaining minority shares and now owns 100% of the platform. The move accelerates Bonnier’s integration of Readly into its broader content ecosystem, including its Nordic subscription bundle +Allt and regional plays like the acquisition of French subscription service Toutabo (Arcy) in 2023.

“Through the transaction, Readly also becomes a content provider to +Allt, which represents a new stable revenue stream for Readly.”
— Philip Lindqvist, CEO of Readly, on the strategic value of integrating Arcy and Bonnier’s subscription bundle

INSIDER TAKE

“Our view remains that Readly needs a combination of own content and partner content, as well as significantly greater scale and distribution power to create an even better offering for more partners and customers and, thereby, a stronger business. Bonnier News Group can meet those needs for Readly in a private environment.”
— Anders Eriksson, CEO & President of Bonnier News Group AB, on why full integration under Bonnier justified taking Readly private

Readly’s post-profitability delisting caps off a quiet but significant strategic transition. By moving the platform fully under its umbrella, Bonnier gains operational control and freedom to experiment with bundled pricing, regional loyalty plays, and long-term monetization—all without the constraints of public market scrutiny.

• A clean break from public market pressures
  With profitability established and growth stabilizing, Bonnier can now treat Readly as a long-term infrastructure asset—free to invest in platform innovation, content partnerships, and cross-brand bundling at a pace aligned with internal priorities.
• Proof point for bundled content models
  Readly’s financial turnaround strengthens the case for bundling niche content into broader subscription ecosystems. It also shows that a curated, multi-title platform can thrive when retention and ARPU are optimized over raw growth.
• A sign of strategic M&A discipline
  Unlike speculative rollups, Bonnier’s move was gradual and deliberate—culminating only after Readly had proven it could generate consistent cash flow. That’s a signal to other media companies: timing the acquisition matters.
• Retention-first strategy pays off
  Subscriber numbers plateaued, but revenue and margin growth suggest a shift toward monetizing loyal users. This mirrors a broader trend among mature subscription businesses, where value per user increasingly outperforms pure acquisition volume.