Mitt Media was acquired by Citypress.

Mitt Media, a Stockholm, Sweden-based media group, announced that it enetered into an investment agreement for being acquired by a group of financial investors.

Following the deal, which has the financial details undisclosed, Lokaltidningen Mitt i Stockholm AB, which operates the company is taken over by Citypress AB. The new chairman of the board in Mitt will be Martin Alsander who will take over after Joachim Berner. The new Board also includes Claes Jonson, Håkan Tranvik, Susanne Hobohm and Lars Axelson.

Citypress is 60% owned by a consortium led by Lazarus Equity Partners. Lazarus Equity Partners is owned by, among others, Martin Alsander and Claes Jonson who were involved in the turnaround of the media group Stampen. The remaining 40 percent of Citypress is owned by financial investors.

Mitt Media, led by CEO Maria Croon, has a total audience reach via newspapers and digital channels of just under 1.4 million readers each week.