Metro Bostad Stockholm closes
Metro Bostad in Stockholm, the weekly real estate paper by Metro, will be closed down at the end of the year. The edition for the southern part of Sweden in Skåne (Malmö) will be continued.
The weekly paper was home delivered in Stockholm with a circulation of 220,000 copies. Bostad was introduced in the beginning of 2006 as the successor of the Hus & Hem real estate spin off that was introduced several years ago.
The real estate market in Stockholm will be covered in 2008 with a weekly supplement Metro Living in the traditional green Metro.
Per Mikael Jensen, CEO of Metro International, commented: “Following a review of the business model it has become apparent that the current price-pressured market in Stockholm is not supportive of the home-delivered, low-margin Metro Bostad concept. We have therefore decided to bring the home-delivered real estate edition to a standstill in Stockholm ahead of 2008, with all employees being integrated into Metro’s existing business. The actions taken today are also in line with Metro International’s continued strategic review, initiated by the board, which is expected to be completed during spring 2008.” (Metro International)