Danish media group North Media will discontinue North Media Online after years of functioning as a separate division running North Media’s digital companies. Going forward, BoligPortal and Ofir will both be independent companies, each managed by its own CEO.

Head of North Media Henrik Løvig has been lauded for the success of both online businesses, and will now be promoted to executive director of Acquisitions & Business Development and will become part of the Group Management team. North Media Online will be discontinued.

Following the change, the executive board of North Media will consist of Kåre Stausø Wigh, group executive director & CFO, Henrik Løvig Jensen, executive director of Acquisitions & Business Development, Lasse Ingemann Brodt, CEO of FK Distribution and Jannik Bray Christensen, CEO of BEKEY.

Ofir showed strong numbers in its Q3 report. Revenue was up 79% in the nine-month period ending Sept. 30, 2021. Revenue reached DKK 25.6 million ($4 million U.S.).

Boligportal, however, saw revenue grow by just 1%. For the nine months ended Sept. 30, Boligportal had DKK 64 million ($10 million U.S.) which is up 3% from the same period last year. The cause: a large drop in supply in the rental market. However, Boligportal is adapting and transforming itself from marketplace to SaaS business, starting several new services for landlords. It is also creating a new SaaS data company with landlord services like digital rental contracts, digital moving and inspection reports. Boligportal now also assists tenants with handling electricity, insurance and broadband choices.

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