German e-reading company txtr will be adopted as the e-book platform for German-based consumer electronics retailer Media-Saturn-Holding (MSH).
The Bookseller reported that Berlin-based txtr filed for insolvency proceedings in January, with a provisional administrator Olswang Restructuring Solutions appointed to oversee a sale.
According to Publishers Lunch , some publishers were recently told in an email that MSH would adopt txtr from the beginning of April. The retailer is currently turning its music streaming subscription service JUKE! into a broader digital entertainment platform which will include e-books and txtr had been working with the company on these plans. Some former txtr employees have now joined MSH.
Hamburg-based Storecast has taken over the technology platform and will operate it going forward as the service provider, while MSH has taken over its contractual relationships and ongoing payment obligations with content providers and resale partners.
The bankruptcy administrator is responsible for making txtr's payments from the filing through the end of March, and MSH is paying for all new sales dating from 1st April.
Beyond the email to publishers, MSH has not officially commented on the txtr deal or issued any formal announcements. The retailer said in the email that it is in discussions about continuing txtr’s partnerships, including its relationship with ReaderLink in the US and German e-book subscription service Blloon, which was founded by previous txtr executive Thomas Leliveld. He will now work full-time as c.e.o of Blloon.