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Going private

Publisher
Newspapers Media ownership
Description

TWO NAMES have been doing the rounds as the global newspaper business casts around for knights in shining armour to save them from an uncertain future. The first is Alexander Lebedev, the former KGB agent who recently bought London's Evening Standard newspaper from the Daily Mail & General Trust for the princely sum of $1 and who is now reported to be sniffing around the faltering Independent and Independent on Sunday, whose owner, Tony O'Reilly's Independent News and Media, is in deep financial trouble. The other is Mexican mogul, Carlos Slim, who, according to the Wall Street Journal, agreed to inject US$250 million into the New York Times in a deal that could see him emerge with 18% of the company's shares ...

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open