Bonnier Expands Its Power – Acquires Local Newspaper

The already concentrated Swedish media market is shrinking even further as Bonnier News acquires the local newspaper Mitt i.

Mitt i currently has around 30 titles in Stockholm and is a free newspaper that is also available online. The newspapers are distributed to one million households in the Stockholm area.

With the acquisition, in which Bonnier News is purchasing all shares in Ge-Te Media AB from the majority owner Byggmästaren Anders J Ahlström Holding AB as well as a handful of minority owners, the company says it aims to strengthen its coverage in the Stockholm area.

“We have a strong belief in local journalism and through this acquisition, we are creating good conditions for continued development of journalism in the Stockholm region,” says Anders Eriksson, CEO of Bonnier News.

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According to Eriksson, the deal is strategically important for Bonnier News, and he believes that their scale enables joint development, technology, and advertising sales for all their brands, thereby creating the best conditions for quality journalism.

“In recent years, Mitt i has developed both digitally and in print. I am proud of the value that Mitt i delivers to readers and advertisers and look forward to seeing the company continue to develop with Bonnier News Local as its owner,” says Mikael Benckert, CEO of Ge-Te Media AB.

Shut Down Local Newspaper

Mitt i will become part of Bonnier News Local, owned by Bonnier News, the Norwegian local newspaper group Amedia, as well as Swedish Gota Media and Erna Media.

“Mitt i is a well-established brand that will give us a strong presence in Stockholm and provide a solid foundation for building a sustainable and increasingly digitized business over time,” says Pia Rehnquist, Head of Bonnier News Local.

In October, Bonnier News announced it would close Lokaltidningen with 20 titles in Skåne.