ABSTRACTFrom Kohlberg’s moral reasoning approach, this study analyzes the decision-making process of a group of Swedish newspaper editors. We use a qualitative methodology to examine how editors respond to three ethical dilemmas related to company loyalty, journalistic values, and newsroom diversity. Findings suggest that commercial considerations do not outweigh the inherent ethical/journalistic influence on decisions concerning the newsroom. Further categorization reveals that ethical and managerial reasoning co-exist in a news media landscape that requires capturing readers and investors without neglecting journalistic (...) values and norms. In investigating the moral, ethical, and business aspects of newspaper editors’ decision-making process, our findings reveal the delicate balance Swedish editors strive for during an increasingly difficult and transitional period in journalism. (shrink)