Evening Standard newspaper, and now he owns it.'>

London newspaper to be sold to Russian tycoon

When Alexander Lebedev was a KGB spy in London, it was a daily habit to read the capital's Evening Standard newspaper, and now he owns it.

January 22, 2009 06:54


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


When Alexander Lebedev was a KGB spy in London, it was a daily habit to read the capital's Evening Standard newspaper. Now, he owns it. The Standard's owners announced Wednesday that the Russian tycoon has bought a controlling 75.1 percent stake in the venerable but money-losing paper for a "nominal sum" widely reported to be £1 ($1.40). Lebedev insists he's not in it for the money - a good thing, media analysts say. With newspapers across Europe and North America in crisis, it's a poor investment. "He won't make a profit from it," said Roy Greenslade, a professor of journalism at City University in London. "If one of the most successful media companies in Britain can't make money off it, with the greatest respect, I don't think he can." After weeks of rumors, Standard owner Daily Mail & General Trust PLC confirmed Wednesday that a company formed by Lebedev and his 28-year-old son Evgeny would acquire 75.1% of London's afternoon newspaper, with the elder Lebedev becoming chairman of the newspaper's board. Daily Mail & General Trust will retain a 24.9% stake.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection