Nyhedsavisen
Encyclopedia
Nyhedsavisen was a Danish
free daily newspaper
based on a new concept of distributing a free newspaper to 500,000 Danish homes that became the most read in the country within 18 month of launch. It was owned by investment and advisory catalyst LundXY
.
It was closed in August 2008 with a reported deficit of approximately $100 million, generated mostly under the previous ownership, making it the latest victim of the so-called "newspaper wars" in Denmark. The first issue was published on October 6, 2006.
, with minority stakes held by a number of co-founders, including Morten Lund
. However, in January 2008, Baugur decided to sell Lund a 51% majority share of Dagsbrun Media, the holding company for the newspaper. For the acquisition, Lund had teamed up with Morten Wagner of Freeway, an owner of popular social networking sites such as dating.dk and arto.dk. It is believed that they bought the stake for a single Danish crown. At that stage, the newspaper had lost close to $50 million. Rumour has it that Morten Lund
assumed this debt.
Detractors have pointed out that Nyhedsavisen suffered with funding issues from the outset; at launch, analysts were concerned that Baugur's £45m investment was too small to keep it afloat. It was also reported in the Danish press that the newspaper lost 200m Danish crowns over the course of 2007, before Lund's takeover. However, under new ownership it officially claimed the position of most widely read newspaper in Denmark, with a daily circulation of 551,000.
Freewat aps and A-Pressen have taken over the news paper's on-line edition avisen.dk.
According to the editorial management at Nyhedsavisen the old news papers were too reactionary, because they published too many stories based on the political system. Nyhedsavisen categorized these stories as the World of power.
The idea was to downgrade these type of stories. Instead the news paper should contain much more stores from what 'Nyhedsavisen named The unknown World and Our world. These two categories respectively contained stories about for instance new science and family life.http://mediawatch.dk/blogindlaeg/nyhedsavisen-og-de-tre-verdener
The competing newspapers that Nyhedsavisen criticized has denied that Nyhedsavisen contributed with a new type of newspaper.
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
free daily newspaper
Free daily newspaper
Free daily newspapers are distributed free of charge, either in central places in cities and towns, or with other newspapers. The revenues of such newspapers are based on advertising.-In the U.S.:...
based on a new concept of distributing a free newspaper to 500,000 Danish homes that became the most read in the country within 18 month of launch. It was owned by investment and advisory catalyst LundXY
LundXY
LundXY - Global Ventures is an angel investment and startup catalyst headquartered in Copenhagen, Denmark, founded by serial entrepreneur Morten Lund in 2007....
.
It was closed in August 2008 with a reported deficit of approximately $100 million, generated mostly under the previous ownership, making it the latest victim of the so-called "newspaper wars" in Denmark. The first issue was published on October 6, 2006.
Economy
At its inception, the paper was owned by the Icelandic Baugur GroupBaugur Group
Baugur Group was an Icelandic investment company. The group applied for bankruptcy protection in February 2009, after placing its UK arm in administration.- History :...
, with minority stakes held by a number of co-founders, including Morten Lund
Morten Lund
Morten Lund, is an entrepreneur from Copenhagen, Denmark. Along with Soren Kenner, Lund is founder and managing partner of LundKenner, a venture capital firm focusing on technology ventures...
. However, in January 2008, Baugur decided to sell Lund a 51% majority share of Dagsbrun Media, the holding company for the newspaper. For the acquisition, Lund had teamed up with Morten Wagner of Freeway, an owner of popular social networking sites such as dating.dk and arto.dk. It is believed that they bought the stake for a single Danish crown. At that stage, the newspaper had lost close to $50 million. Rumour has it that Morten Lund
Morten Lund
Morten Lund, is an entrepreneur from Copenhagen, Denmark. Along with Soren Kenner, Lund is founder and managing partner of LundKenner, a venture capital firm focusing on technology ventures...
assumed this debt.
Detractors have pointed out that Nyhedsavisen suffered with funding issues from the outset; at launch, analysts were concerned that Baugur's £45m investment was too small to keep it afloat. It was also reported in the Danish press that the newspaper lost 200m Danish crowns over the course of 2007, before Lund's takeover. However, under new ownership it officially claimed the position of most widely read newspaper in Denmark, with a daily circulation of 551,000.
Freewat aps and A-Pressen have taken over the news paper's on-line edition avisen.dk.
Editorial
The editorial management presented Nyhedsavisen as a new journalistic concept because of its special mix of news stories. The mix was meant to make the news paper a contrast to the established newspapers.According to the editorial management at Nyhedsavisen the old news papers were too reactionary, because they published too many stories based on the political system. Nyhedsavisen categorized these stories as the World of power.
The idea was to downgrade these type of stories. Instead the news paper should contain much more stores from what 'Nyhedsavisen named The unknown World and Our world. These two categories respectively contained stories about for instance new science and family life.http://mediawatch.dk/blogindlaeg/nyhedsavisen-og-de-tre-verdener
The competing newspapers that Nyhedsavisen criticized has denied that Nyhedsavisen contributed with a new type of newspaper.
External links
- Official website
- Nyhedsavisen article on Danish language Wikipedia