What a Christmas present for the employees of GulogGratis who’ve been wondering  for months what will happen with the ownership of the second-biggest classified sites in Denmark. Now they know. On the day before Christmas Eve, Fynske Medier presented the news that they had reach an agreement with Nordjyske Medier to buy its 50 percent stake in the classified company.

The news comes as an after effect of the September merger of three media groups — Fynske Medier, Syddanske Medier and Jyske Medier — which agreed to join forces under the new company name Jysk Fynske Medier.

Since Nordjyske is not part of the big merger between the three, it had not been crystal clear that GulogGratis also would partner in the new group.

The Competition Authority has not yet given its approval of the merger. The plan has been to start the new company beginning Jan. 1.

Guloggratis.dk is already profitable business. It earned DKK 3.3 million ($541 000 U.S.) in 2013. It has an aspiration of taking on the leading classified site in Denmark, EBay-owned DBA.dk, which has its base in Copenhagen. Guloggratis is still mainly a provincial classified site promoting its digital ads also in several newspapers.

Nordjyske explained in a Danish media magazine that the sell-off  fits into its strategy of running wholly owned businesses to make the businesses fully integrated into the rest of its operation.

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