Zetland sold to Bonnier News

Transaction

Sell-side

Undisclosed

Role

Adviser to Zetland on the sale to Bonnier News

Sector

Tech et services tech

Region

Danemark

We have advised the digital media outlet Zetland on its sale to Bonnier News, the largest Nordic media group.

Zetland is a “digital newspaper for curious people who want to understand the world they are part of”, founded in 2012 by four fellow journalists with the mission of creating an independent, high-quality media outlet that fosters curious conversations and immersive storytelling in an ever-changing world. The company has won several prestigious awards, most recently the Cavling Prize in 2024. Through a unique membership-based model and product innovation, it has built a loyal member base across Denmark, Norway, and Finland, totalling approximately 70,000 members today.

As the leading media group in the Nordics, Bonnier News owns a wide range of prominent newspapers, magazines, and digital news services. Bonnier News is family-owned and committed to delivering independent journalism and promoting a dynamic media landscape.

Zetland will continue under the same dedicated management team and, through its new partnership with Bonnier News, aims to accelerate growth and expand its unique, scalable membership model into new markets.

It is significant to note that, even in our challenging industry, we remain attractive to large, established players. Naturally, we had many ethical considerations regarding the sale. From the outset, we knew we wanted a strategic partnership with a publisher who shared our mission to preserve and promote the free word. We found this in Bonnier, with whom we can achieve new growth and strengthen our mission in new markets.

The sales process has been complex and, at times, dramatic—on a level quite different from what we are used to. That’s why having a reliable team like Clearwater throughout the process was essential. They are extremely professional and have given us a new respect for stakeholder management. But above all, they are genuinely nice people, and that means the world to people like us who prefer working with people over numbers. They’ve been our closest colleagues for a long time, and we will miss them.
Tav Klitgaard, CEO and Co-owner, Zetland

In a challenging media industry, Zetland has shown how innovation and credibility can redefine quality journalism, with a focus on audio and community. Moreover, Zetland has proven that its business model is scalable across new geographies.

It has been both educational and inspiring to work with Zetland’s management and investors to find the right partner in Bonnier News. With an ambitious team and a scalable business model, it will be exciting to follow Zetland’s international expansion.
Andreas Lauth Lauridsen, partner, Clearwater