The objective of this article is to describe and discuss the most important changes within the Swedish media system and their consequences on media performance and news journalism. Furthermore, the article compares media development in Sweden with the Baltic-Nordic region in general and discusses the possibility for small media markets to develop and combine national distinctive features with emerging global market trends. The main conclusion is that there remains no typical, single Nordic market, but rather different variations of mixtures of democratic corporativist national structures and more global liberal influences. Furthermore, this integration process is driven more by media institutional factors such as public service ideals and professional norms, than by proactive governmental policies.