This study aims to increase the understanding of the changes made in the Swedish press and media subsidy politics between 2018 and 2024. This is achieved through examining how the interpretation and construction of the diversity term, as well as the discourse surrounding Swedish press and media subsidy policies, has changed over time. The analysis of press and media subsidy policy documents, using Laclau and Mouffe’s theoretical approach, reveals a shift in discourse as well as in the construction of the diversity term. Over time diversity moves from including a heterogeneity of both media actors and content, to adopting a stricter definition of the term in 2024 where diversity solely should be understood as a heterogeneity of media actors. Also, a shift in discourse could be detected. In 2018, a breadth of media actors and titles was considered necessary to achieve the goal of a breadth of voices, opinions, and perspectives in news reporting. Thus, reduced ownership diversity was still considered aproblem for content diversity. However, in 2024 the importance of ownership diversity appears to decrease. A diversity of media actors and titles were no longer considered possibleto prioritize as highly as before. Instead, the importance of the diversity of media actors and titles are subordinated to the geographical spread of media actors.