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Russians Set to Save Print Media in Europe

Files under: News
Posted by: Quintura @ 13:52 [17. 01. 09]

The commercial court of Lille has given a permission to Sablon International, part of Luxadvor holding of Russian oligarch Sergey Pugachev, to increase its stake in French newspaper France Soir from 19.9 percent to 85 percent, according to Nord Eclair. The newspaper has circulation of 23 thousand. It made estimated losses of EUR 6 million over the last two years. Over the past few years, Luxadvor has acquired French gourmet grocery chain Hediard, Russian watchmaker Poljot and luxury TV broadcaster Luxe TV.

Meantime, the other Russian oligarch Alexander Lebedev has made bids to acquire 75 percent in Evening Standard, London’s evening newspaper with circulation of 294 thousand, according to Guardian. The newspaper’s losses are estimated at GBP 10 million per year. Mr Lebedev owns 49 percent of Russian newspaper Novaya Gazeta.

Evening Standard is owned by Daily Mail & General Trust, publisher of Daily Mail newspaper.

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