In February 2009, following the collapse of the Icelandic investment company Baugur Group who had a large stake in the firm, the Bank of Scotland became the majority owner of the firm in a debt-for-equity deal.
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Jón Ásgeir Jóhannesson (born 27 January 1968 in Reykjavík) is an Icelandic businessman and former CEO of Baugur Group.
At its inception, the paper was owned by the Icelandic Baugur Group, with minority stakes held by a number of co-founders, including Morten Lund.