A descendant of Christian Michael Schibsted - the founder of the Schibsted media group - Nagell-Erichsen graduated from the London School of Economics, and spent his entire career working for the group and its newspapers.
As the largest single share-holder, with a 26.1% stake, Nagell-Erichsen took negative control of Schibsted when it was changed from a family enterprise to a listed company in 1992. He also became the first chairman of the board, a posiiton he kept till 2002.
In 1996 he created the Tinius Trust, later to hold the voting share of his ownership stake, in order to guard the independence of the media group. At his death he was chairman of the trust and deputy chairman of Schibsted ASA, which will now be governed by the trust board.
Schibsted's home markets are Norway and Sweden, with operations in another 14 countries. Besides the newspaper conglomerate it controls Swedish producer Metronome Film & TV (co-owned by Endemol), pan-Scandinavian distributor Sandrew Metronome, and Norway's Rubicon TV & Film.
Financial analyst Preben Rasch-Olsen, of Carnegie, expected no changes in policy at Schibstad, as all influence had been transferred to the Tinius Trust.