January 15, 2009

The wacky world of newspaper ownership

Ordinarily, the news that a Russian billionaire is buying one of Britain’s best-known newspapers, the Evening Standard, would be cause for surprise, and maybe even concern.

But Alexander Lebedev is no ordinary Russian billionaire.

True, he is ex-KGB, as almost any successful Russian seems to need to be nowadays.

But Lebedev also owns Novaya Gazeta – the newspaper that Anna Politkovskaya was reporting for before her assassination in 2006.

Lebedev’s fought back against a suffocating regime in Russia – he should have no problem dealing with City Hall and Westminster.

His bigger challenge will be trying to make money out of the Standard, whose finances apparently resemble a leaky bucket.


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