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. Nyhedsavisen was first published on 6 October 2006. In its first year the paper had a circulation of 160,000 copies. In March 2007 its circulation was 400,000 copies. At its inception, the paper was owned by the Icelandic Baugur Group, 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. More information...
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