Publishers of the Danish free newspaper Nyhedsavisen, which was launched by an Icelandic company and in which Icelandic investment group Stodir Invest holds a 15 percent share, have decided to stop publication.
The newspaper was modeled on the free Icelandic newspaper Fréttabladid.
The newspaper’s employees received an announcement from Morten Nissen Nielsen, managing director of Nyhedsavisen, and the newspaper’s editor Simon Andersen in the form of an email yesterday that the paper would not be published today, Morgunbladid reports.
According to Morgunbladid, Morten Lund, one of Nyhedsavisen’s owners, said he is very sorry that it had been necessary to stop publications and that he and other executives had fought hard to keep it going.
However, considering the current economic situation, it had proven impossible to keep publishing the newspaper, Lund said.
Morgunbladid was unable to reach CEO of Stodir Invest Thórdís Sigurdardóttir to comment on this development.
On Friday, Lund issued a statement that he intended to take over the free newspaper Metroexpress, Nyhedsavisen’s main competitor, because there was currently no basis for publishing two free newspapers in Denmark.
Click here to read about Lund acquiring the ruling stake in Nyhedsavisen.