Mentor Medier acquires NHST Media Group’s shares in Morgenbladet

Mentor Medier acquires NHST Media Group's shares in Morgenbladet. As a result, Mentor Medier will own 90.8 per cent of the shares in Morgenbladet. Mentor Medier already owns several newspapers such as Vårt Land and Dagsavisen in Norway, and the Swedish publication Dagen. It also owns several smaller newspapers and publishing firms, as well as Mediaconnect, a key provider of services to the media industry.

Mentor Medier AS and NHST Media Group AS have today entered into an agreement under which Mentor Medier will buy NHST's shareholding of 90.8 per cent of Morgenbladet AS.

Morgenbladet is a leading opinion publication focusing on culture, research, and politics. The national newspaper is Norway's oldest, established in 1819 by the book printer Niels Wulfsberg. Morgenbladet has 83,000 weekly readers and 29 employees. It had a turnover of NOK 75 million in 2019.

- We are very pleased that Morgenbladet will be a part of Mentor Media. We aim to be the best owner for media companies with different values and ideological foundations. Morgenbladet has long traditions as an important voice in the public debate, a position the newspaper has further strengthened in recent years. We look forward to contributing to the development of Morgenbladet based on the newspaper's current profile, says Per Magne Tveiten, CEO of Mentor Medier.

Publisher of Morgenbladet, Sun Heidi Sæbø, will join Mentor Medier’s executive management team.

- When Mentor Medier now invests in Morgenbladet, I am convinced that we will be able to secure and further develop our unique position as an intellectual opinion publication. Mentor Media has shown that they are willing to invest in niche newspapers with a purpose, and we therefore strongly believe that they understand the importance of protecting Morgenbladet's uniqueness to ensure our success going forward. I would also like to thank NHST Media Group for a professional, rewarding, and positive collaboration during my time at Morgenbladet, says Sæbø.

NHST Media Group AS acquired 49 per cent of Morgenbladet in 2013 and increased its shareholding to 90.8 per cent in 2016. The foundation Fritt Ord and AS Forlagsfinans each owns 4.5 per cent and are also represented on Morgenbladet’s board. Mentor Medier acquires all NHST Media Group's shares in Morgenbladet for NOK 40 million, resulting in an accounting gain for NHST Media Group.

CEO of NHST Media Group, Hege Yli Melhus Ask, says it makes sense to divest Morgenbladet now, even though it was a difficult decision, but that it is the right strategic decision.

- Morgenbladet's employees and managers can be proud of what they have achieved the last couple of years. This was not an easy decision. Following Mentor Media’s inquiry, we made a thorough assessment based on NHST's future strategy. When we now divest Morgenbladet, Norway's oldest national newspaper gets a new, good home, where they can further strengthen its position as a leading newspaper for the intellectually curious. At the same time, NHST can concentrate our efforts and investments on business and niche publications in Norway and globally, in addition to our publishing and media monitoring services, says Ask.

Completion of the agreement is conditional upon a formal due diligence, as well as clarification of issues related to pre-emptive rights.