Árni Einarsson, the CEO of Edda, the largest publishing house in Iceland, has announced that Edda would like to purchase the 80.1 percent share which Björgólfur Gudmundsson, chairman of Landsbanki Bank, holds in the company.
“These are still just speculations, nothing has been decided, but it is no secret that we would like to own a larger share in the publishing house ourselves,” Einarsson told Morgunbladid.
Einarsson said Gudmundsson is considering the idea. The Edda book club would remain in his hands, but he would lose his share in the book publishing. Edda’s subsidaries are Mál og menning, Vaka-Helgafell, Almenna bókafélagid, Idunn, Heimskringla and Thjódsaga.
The Edda book club has more than 40,000 members and their annual turnover is about ISK 400 million (USD 6.7 million, EUR 4.9 million). The Edda book publishing company has an annual turnover of about ISK 900 million (15.1 million, EUR 11.0 million).