Russian tycoon enters world media stage by buying London paper

Tim Burrowes

January 15, 2009 10:07

A new media proprietor has this morning entered the global stage with a former Russian spy agreeing to purchase one of the world’s most famous newspapers.

Russian Oligarch Alexander Lebedev is to purchase a majority share in the London Evening Standard from owners the Daily Mail & General Trust, the Guardian has reported in the last few minutes. According to the report, the deal will be signed tonight, Australian time.

The DMGT’s interests in Australia include a major events arm and radio networks including Nova and Vega.

The move may signal that Lebedev – said to be worth more than $5bn – intends to become a media owner on the world stage, as he already has publishing interests in Russia.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.