News Agency LLC 

The company was first established as Mongol Mass Media in 2004. In the past, it used to publish Ardyn Erkh daily newspaper, a state funded newspaper. It was eventually cut off from public funding in 1999 due to Press Freedom Law enacted by the Parliament on Mongolia restricting public funding of media tools. During that time, the Ministry of Justice prohibited the use of the name “Ardyn Erkh” for five years. The decision became ineffective in 2004; the name is now being used again by Mongol Mass Media Group. News Agency LLC acquired www.news.mn web-portal in 2007. The Member of the Board of Directors Amundra A came up with the idea of news.mn along with his colleagues, and established the website with the support of its first investor Tselmuun P, Director of Altan Taria LLC. In that time, Tsenguun P owned 50 percent of Mongol Mass Media Group. The editorial team of news.mn was formed when some young journalists accepted the offer to cooperate. Temuulen P, former Chief-Editor of Ardyn Erkh newspaper transferred the ownership of news.mn website to herself after [agreeing to management privatization terms with the investors](http://www.ikon.mn/lr/qrm). After that, the company has been individually operating as News Agency LLC. The company does not own any shares in other media tools. It is said that a major investor of News Agency is the current President Elbegdorj Tsakhia and that 70 percent of shares are owned by a close relative of his wife, but MOM did not find evidence during research. Another close source claimed that the majority of shares of the News Agency are entitled under the name of Boldbaatar Kh or his son, who is the sibling of the current President Elbegdorj Tsakhia’s wife. However no evidence was obtained. [Boldbaatar Kh is the director of Ulaanbaatar taxi services](http://ubtaxi.cross.mn/).Chief Editor Temuulen B said that the investment and shareholder ownership status are still under negotiation, and that the company will transfer some of its shares to its experienced journalists. As the status of ownership and shareholding will be clear in 2017, the company expressed it could provide such information only then.