http://www.theaustralian.news.com.au/business/story/0,28124,24946607-7582,00.html
*Okay, now imagine this guy, Carlos Slim, Bloomberg, and Rupert Murdoch all in the same bar. Gosh, why do wingnuts mistrust the mainstream media?
Ex-KGB spy buys London's Evening Standard newspaper
Alexi Mostrous | January 22, 2009
Article from: Times Online
The Evening Standard newspaper is to be sold to Alexander Lebedev, the Russian oligarch and former KGB officer, for a nominal sum.
Daily Mail & General Trust (DMGT) said that the sale would safeguard the future of the loss-making London newspaper.
After more than six months of negotiations, Mr Lebedev, a former lieutenant colonel in the KGB, will become the first Russian citizen to own a leading UK newspaper, albeit one with estimated losses of between £10 million and £20 million ($21 million and $42 million) a year.
The Evening Standard will be passed into the hands of Evening Press, a company formed by Mr Lebedev and his son Evgeny Lebedev. DMGT will retain a minority share of 24.9 per cent in the new firm, called Evening Standard Ltd.
Mr Lebedev said: “We are strong supporters of a free and independent press (((gosh, thanks, Mr Covert Operations, sir))) and we greatly admire the Evening Standard as an iconic publication with its pedigree of fine journalism and commentary.
“We are committed to strengthening the newspaper’s competitiveness and look forward to working with Associated, which will continue to be involved as a minority shareholder.”
Martin Morgan, the chief executive of DMGT, said: “The investment planned by Lebedev secures the future of the paper. DMGT will benefit from the reduction in losses and will continue to invest in the development of our newspapers and other businesses.”
The Evening Standard is the sole survivor of 14 paid-for London evening newspapers (((eeek))) but it has been hurt by falling circulation and new competition from freesheets, including thelondonpaper, owned by News International, parent company of The Times....
