Danish newspaper owner strikes deal for business title
The publisher of the Danish newspapers Jyllands-Posten and Politiken has added the country’s most prominent financial publication, Børsen, to its stable in a deal worth more than €100 million.
JP/Politikens Hus said Børsen is a “journalistic gem” and will boost its ambition to build an independent Danish publisher that can withstand growing competition from international digital players.
The publisher has struck a deal with Bonnier, a Swedish media company, worth about 800 million Danish kroner (€107 million), the companies said in separate statements Friday. It is subject to approval by Denmark’s competition authorities.
Børsen, which styles itself like Britain’s Financial Times, was founded in 1896 and has a circulation of about 48,000 in print. Bonnier, whose other media investments include the Swedish newspapers Dagens Nyheter and Expressen, has been a shareholder in Børsen since 1969.
Tomas Franzén, Bonnier’s chief executive, said the sale is a “very good deal” for Bonnier and will allow the Swedish media group to invest more in “areas where we see opportunities for future growth and better returns.”
Stig Kirk Ørskov, managing director of JP/Politikens Hus, said in an email: “Børsen is Denmark’s leading business media and one of Denmark’s strongest media brands. In addition to that, Børsen is a very strong business and has a huge digital potential. In light of the valuation of business media during the last year, we have made an incredibly good deal.”
JP/Politikens Hus was formed in 2003 when the conservative-leaning Jyllands-Posten merged with the centre-left Politiken. It also owns the Danish tabloid Ekstra Bladet. The papers operate independently editorially, and that will also apply to Børsen, the company said.
Jyllands-Posten caused international controversy in 2005 with the publication of unflattering cartoons of the Prophet Muhammad.