Bonnier Tidskrifter Buys Newsmill

Three years ago news and op-ed website Newsmill created a new position in the Swedish public cultural debate. The site, owned by founders PM Nilsson and Leo Lagercrantz along with Swedish investment firm Proventus, has been sold to Bonnier Tidskrifter.

Newsmill has some 75,000 unique visitors each week. The core readership are opinion leaders with politics, the press as well as academia.

"I'm very proud that during 2010 we managed to break even," says Nilsson. "We increased revenues by 375 percent compared to the previous year. I see huge opportunities for further development."

Newsmill will be a part of the same business area as Veckans Affärer and Privata Affärer within Bonnier Tidskrifter Affärspress.

"Newsmill  has a great target group," says Pontus Schultz, publisher and editor for Bonnier Tidskrifter Affärspress and the new chairman of the board for Newsmill. "Within our business segment we see huge possibilities for developing the product on different platforms. Newsmill should continue to be the most important voice within the daily Swedish public culture debate, while at the same time serving as a center for discussions of big topics that continue over time."

In conjunction with the sale, Nilsson will become the editor-in-chief. Lagercrantz will eventually leave the company after a transition period.