Danish free newspaper Nyhedsavisen closes production
By Leah McBride Mensching, Wednesday 3 September 2008 at 19:12 :: Newspaper Data :: #2219 :: rss
Denmark's third free newspaper, Nyhedsavisen, has closed due to lack of funding, The Copenhagen Post reported.
The paper expected a multi-million kroner investment a month ago, but the money did not arrive, and the newspaper now “faces accusations of leaving employees unpaid for their work in August,” according to The Post.
“Angry Polish delivery workers arrived at the Holmen headquarters in Copenhagen, complaining about not receiving their wages for August,” The Post report stated. “The 300 employees told Journalisten.dk that they were owed 17,500 kroner for their work and that they had not been informed about the closure of the paper.”
Icelandic Investment group Baugur launched Nyhedsavisen in 2006. The paper was published six days a week, and published editions for Copenhagen, Odense and Aarhus, Newspaper Innovation reported.
Venture capitalist firm Draper Fischer Jurvetson had planned to invest millions into the company, but the money did not arrive, a board member of Nyhedsavisen's parent company, 365 Media Scandinavia, told Berlingske Tidende, The Post reported.
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