Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

Key Opposition Paper Lost Sponsor
December 14, 2012 21:39

Novaya Gazeta has lost its key sponsor after he fell out of favour with the Kremlin.

Alexander Lebedev, a former KGB agent turned banker and newspaper baron, worth $1.1bn according to Forbes, has stopped funding to one of Russia’s leading opposition and investigative newspapers, Novaya Gazeta.

Love of press

The move comes a month after he mentioned Novaya Gazeta, and not the bank or anything else, as his main cause he can pride himself on over the past seven years. The statement was made in one of his weekly reflections posted on Youtube in November 2012.

Lebedev bought the edition in 2006 together with Mikhail Gorbachev, the first and the last Soviet president.

Moving on

Dmitry Muratov, Novaya Gazeta’s editor-in-chief, believes the edition can survive thanks to the growing ad revenues, cost optimization schemes. The paper insists it does not plan any layoffs.

Another option, the edition says, is for Lebedev to hand over his stake in the newspaper to journalists so that they could find an investor themselves.

Falling out with the Kremlin

Lebedev and his bank, National Reserve Bank, have come under increasing pressure from Russia’s security services due to what the businessman calls his relentless criticism of state corruption.

In particular, he is facing up to 5 years in prison as part of a criminal case that was opened on hooliganism charges after he punched Sergey Polonsky, a property developer, in the face live on Russian television.

In his November weekly podcast on Youtube, he voiced a theory that it was his Novaya Gazeta that angered movers and shakers in the higher echelons of power.

In that video he says he will focus on Novaya Gazeta, because he doesn't see he has future as a businessman in Russia.

Lebedev is also the owner of four UK newspapers, the London Evening Standard, The Independent, the Independent on Sunday and the new i newspaper.

Read more on his biography and career in a Russia-IC article here.

Author: Mikhail Vesely

Tags: Lebedev Novaya Gazeta Russian press Russian banks  

Next Previous

You might also find interesting:

2014 Sochi Olympics Suprises Russian MOFA Comments On Assad's Resignation Russian Police Plan New Reform Monument To the Victims Of Political Repressions Sberbank May Become One Of the Most Competitive Digital Companies

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Mikhail Bobyshov  Mercedes-Benz Fashion Week Russia  society  Organ Concerts  Russian science  Russian business  Edvald Smirnov  Festivals in Moscow  Moscow weekends  Russian ships  Kemerovo Region  Russian oligarchs  Settlement Account in Russia  Russian regions  Ballets in Moscow  Moscow  Triumphal Square  Concerts in Saint Petersburg  Samara Airport  Moscow actions  YUVT Aero  Classical Music  Russian tourism  St. Petersburg  Wild Nature of Russia  travel to Russia  Russian authorities  Nakhodka  Russian Museum  Unusual Monuments  Russian Cinema  The Romanov Family  Artillery  Russian singers  Russian opposition activists  WORLDLOPPET  Exhibitions in Moscow  Dagestan  Yury Vizbor  Yuri Bashmet Winter International Art Festival  Skolkovo  Wim Delvoye  Rock Music  Khabarovsk  Russian Defence Minister  Alexei German Jr.  Russian Rock Music  Russian Premier League  Multimedia Art Museum  Saint Petersburg 

Travel Blogs
Top Traveling Sites