Lebedev’s Evening Standard halves losses

The London Evening Standard‘s parent company is expected to announce that losses almost halved to £16.9m in 2010.

Evening Standard Ltd was set up by Alexander Lebedev as a shell company in February 2009 when he bought the ailing newspaper, which was quickly turned into a freesheet in a bid to boost advertising revenue.

Losses stood at £28.3m between the sub-annual period of December and October 2009. That figure has been reduced to £16.9m though for the 12 months between October 2009 and September 2010, according to Media Week.

(Source: Media Week)

Photo taken by Flickr user HowardLake, licensed under Creative Commons.




“Before we all sink into a slough of digital dystopian despair, it might be worth considering this: is this a sign of the strength, not weakness, of revelatory journalism in the digital age?”

Charlie Beckett, director of POLIS at the London School of Economics, reacts to news that the UK government forced the Guardian into destroying hard drives that contained information leaked by Edward Snowden.

(Source: POLIS)


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