[2] At its inception, the paper was owned by the Icelandic[3] 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.
Detractors 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.
However, under new ownership it officially claimed the position of most widely read newspaper in Denmark, with a daily circulation of 551,000 copies[4] and A-Pressen have taken over the news paper's on-line edition.
[5] The paper was closed in August 2008[3] 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.