Russian billionaire Lebedev eyeing the London Standard: Reports
16 Jan 2009
Russian billionaire Alexander Lebedev is reported be have shown interest in acquiring the London Evening Standard newspaper as well as other influential papers.
Reports quoting the billionaire's spokesman Artyom Artyomov said the billionaire was interested in the Evening Standard and other "influential and independent newspapers". The Evening Standard is owned by the Daily Mail and General Trust.
Artyomov was reported as saying that Lebedev is interested in "well-known Western media which are in a difficult economic position."
Last week, the Guardian reported that the former KGB officer was keen to acquire around 76 per cent of the newspaper, with the Daily Mail's Associated Newspapers group retaining the remaining stake.
The Evening Standard is the only paid-for newspaper that is published in London during the afternoon. It has been facing economic challenges during recent years in the face of competition from free papers. It is the last standing survivor of 14 paid-for London evening newspapers, bleeding around £10 million annually.
