North Media A/S Announces Business Reorganization; Announces Management Changes Effective January 1, 2016
November 26, 2015 at 07:52 pm IST
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North Media A/S Group have been organised in two segments so far: Print activities and Online activities. This segmentation will be abandoned effective from 1 January 2016 for a new structure, under which the Group will be organised in four business lines with the related subsidiaries. These four business lines are: FK Distribution A/S – consisting of FK Distribution and the related wholly-owned or partially-owned subsidiaries, inclusive of NejTak+ and Minetilbud.dk. North Media Aviser A/S consisting of Søndagsavisen and eight local newspapers in Copenhagen and Frederiksberg, Lokalavisen Nordsjælland and Helsingør Dagblad as well as 50% of Vestsjællandske Distriktsblade A/S. North Media Online A/S – consisting of, BoligPortal.dk, Bostadsportal.se, Ofir.dk, håndværker.dk and MatchWork.com. BEKEY A/S holding the electronic key and access control system BEKEY. The Interim Management Statement for first quarter of 2016 will be the first to report on the new business lines. Each of North Media's four business lines holds different potential for market development. In their markets, the business lines also hold different market positions and are at different maturity levels. Following recent years' transformation and many new business initiatives, strategically different efforts and focus in particular are called for to further optimise business.
CEO Lars Nymann Andersen, who has planned and proposed the new structure, has decided to resign as part of the change in group structure. From 1 January 2016, the Executive Board of the North Media Group will consist of five executive officers. CFO Kåre Wigh will be Group Chief Executive Officer on the new Executive Board and remain in charge of the joint group functions of finance, accounting, legal, HR and IT. In addition, the Group Executive Board will have four executive officers, each to be in charge in their own business line and directly responsible to the Board of Directors of North Media A/S. This will intensify focus on growth and positive earnings in each business line: FK Distribution A/S: Mads Dahl Andersen, Chief Executive Officer. North Media Aviser A/S: Arne Ullum, Chief Executive Officer. North Media Online A/S: Chief Executive Officer, vacant, management will be attended to by Kåre Wigh until further notice. BEKEY A/S: Søren Holmblad, Chief Executive Officer. The changes will take effect from 1 January 2016.
North Media A/S, formerly Soendagsavisen A/S, is a Denmark-based company engaged in the news and media sector. The Company is primarily engaged in the publishing and distribution of newspapers in Denmark, with minor activities in England, Sweden and Germany. The Companyâs activities are structured into two segments, namely Print and Online. The Print segment consists of the distribution activities of FK Distribution, as well as printing the newspapers of Sondagsavisen, Helsingor Dagblad and Lokalavisen Nordsaelland. Through Bekey A/S it develops an electronic key system used for stairway entrance doors and private doors. The Online segment consists of Ofir.dk, MatchWork.com, Sondagsavisen.dk, BoligPortal.dk, MinReklame.dk and BostadsPortal.se. The Company operates through its subsidiaries and joint ventures, including Helsingor Dagblad A/S, FK Distribution A/S, and BeKey A/S, among others. In November 2013, the Company acquired eight local newspapers from Berlingske Medier.
NORTH MEDIA A/S 
