Wed, 25/06/2014 - 16:22
Segulah IV is to acquire Lokaltidningen Mitt i from VLT, part of Stampen Media Group.
Mitt i publishes 31 local newspapers in the Stockholm region, from Vallentuna in the north to Haninge in the south.
“Mitt i is a profitable company with great potential,” says Marcus Jansson, partner at Segulah. “Mitt i is a well-established brand. We see a number of different opportunities for growing the business during the years ahead.”
Mitt i reaches approximately 900,000 readers every week and generated revenues of SEK300m and operating earnings (EBITA) of SEK70m in 2013. The agreement includes a clause stating that the purchase consideration is confidential.
Joachim Berner, with background as manager and editor of several news organisations and board member of different listed and private companies, will be appointed chairman of the board. Dan Lannerö, former president of Eskilstuna-Kuriren and Upsala Nya Tidning, will also be on the board.
“Mitt i is a well-managed company with an excellent journalistic concept. I look forward to supporting its management and employees in their efforts to further develop the business,” says Berner.
Mitt i’s president, Thomas Nyhlén, says: “The management team and I view positively the opportunity to continue to make really good local newspapers together with Segulah and a new board of directors.”
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