A hidden power struggle is shaking the foundations of EFN, the media house owned by Swedish banking giant Handelsbanken. Approximately twenty permanent employees face termination. The conflict centers on undisclosed influence and a controversial editorial direction. This story reveals deep tensions within a corporate-owned newsroom in Stockholm's financial heart.
The dismissals were communicated on a Thursday morning in November. Staff gathered at the Blasieholmsgatan offices near the historic Kungsträdgården. New editor-in-chief Anders Hägerstrand announced the cuts, framing them as part of an "EFN 2.0" relaunch. The move involves firing one-fifth of the workforce while simultaneously hiring new staff. This contradiction has fueled internal dissent.
Sources describe the situation as profoundly complex. "This goes much deeper," one insider revealed. The conflict is not merely about staff reductions. It involves allegations of undisclosed influence over editorial content. A specific incident triggered formal scrutiny. The editor's public praise for industrial conglomerate AB Volvo was reported to Sweden's Financial Supervisory Authority, Finansinspektionen. This raised questions about editorial independence and potential conflicts of interest.
The core allegation points to a hidden power figure influencing the media house. Critics label the editor a "marionette" for this unseen authority. This creates a crisis of credibility for a publication operating from Stockholm's prestigious Ă–stermalm district. The area is known for high finance and corporate headquarters, not journalistic controversies.
This case highlights a recurring challenge in Nordic media. Corporate ownership of news outlets can create inherent tensions. The business interests of a parent company, like a major bank, may clash with journalistic integrity. Sweden has strong traditions of press freedom and transparency. This incident tests those principles within a specific, financially-focused media entity.
The implications are significant for Stockholm's business community. EFN serves as a key source of financial news. Its perceived independence directly impacts its value to readers and investors in the Nordic innovation hub. When a newsroom's leadership is questioned, the reliability of its reporting comes under doubt. This affects market analysis and investor confidence.
What happens next? The investigation by Finansinspektionen will be crucial. Its findings could validate or dismiss the conflict-of-interest claims. Internally, morale is reportedly low. The remaining staff must navigate the relaunch amid this turbulence. The outcome will signal whether corporate media houses can maintain rigorous editorial standards. It serves as a cautionary tale for other owned publications in the Nordic region and beyond.
The story is ultimately about power and transparency. It asks who truly controls the narrative in a corporate newsroom. For international observers, it provides a case study in Nordic corporate governance and media ethics. The resolution will be closely watched by journalists and business leaders across Scandinavia.