The World: Copenhagen - Nyhedsavisen is saved by US investment group

The future of the troubled Danish freesheet Nyhedsavisen has been secured by new US investment after it reported a huge loss for 2007.

The Skype founder Mortun Lund bought a 51 per cent stake in the paper from Iceland's Dagsbrun at the beginning of the year.

Now further investment from the venture capitalist Fisher Jurvetson is expected to bring it out of the red.

Nyhedsavisen posted a loss of EUR84.7 million for 2007 and Dagsbrun is said to be in a financial crisis as a result. Its annual report has not been approved by the company's auditor.