Dagsbrún to become two companies

At a shareholders meeting yesterday morning, Dagsbrún announced that the company would be divided into two companies registered at the Icelandic Stock Exchange.

The former is 365 Media under the direction of Ari Edwald. It is comprised of newspapers Fréttablaðið and DV, a number of magazines, television stations NFS and Stöð Tvö, websites visir.is and reykjavik.com, as well as companies Sena, SagaFilm, D3 and Wyndeham Press Group in the UK.

The latter will be information technology company Teymi hf comprised of Og Vodafone, SKO, Kalls, Mamma, Securitas, Kögun, Skýrr and EJS, under the direction of Árni Pétur Jónsson.

Board director of Dagsbrún, Þórdís Sigurðardóttir said at the meeting yesterday that the aim of these changes was to strengthen the economy of both companies, and lower their debts. She said that Dagsbrún had grown immensely in a short period of time with a lot of acquisitions. " We see the companies doing better in the future with a separate focus and growing further seperately rather than together." Both Landsbankinn and Kaupthing bank have declared these news to be positive.