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Major new media company cleared for launch

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15:42 CEST+02:00
The Swedish Competition Authority (Konkurrensverket) has given the all-clear for the establishment of a new media conglomerate in central Sweden.

The company is to be called Liberala Tidningar AB (Liberal Newspapers) and will consist of 15 local and regional newspapers, which include Nerikes Allehanda and VLT.

The 15 newspapers have a combined circulation of 217,000 copies.

"By cooperating, the newspapers will gain resources with which to grow and tackle competition from other media and distribution channels," said Tomas Brunegård, managing executive of Stampen-gruppen, which is the majority owner of Liberala Tidningar.

Stampen-gruppen expects the new company to employ around 1,550 people and to have a turnover of approximately 1.3 billion kronor ($188 million).

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