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Abstract
This paper addresses the issue of how ownership is exercised in the newspaper industry. Focusing on the distribution of power in the top realms of the newspaper firm, it deals with such fundamental issues as ownership objectives, profit targets, (party) political influence, and the consequences of ownership concentration of the press. The paper builds on a systematic analysis of minutes from board and shareholders meetings as well as interviews with owners and board members of the Swedish provincial newspaper Sundsvalls Tidning.