Thursday, 31 October 2013

Alexander Lebedev and the plight of The Independent newspaper

I do have little sympathy for Alexander Lebedev, a Russian oligarch who lives in Russia and owns 75% of the Evening Standard newspaper and also The Independent newspaper.

Following the guidelines of the NUJ (National Union of Journalists that I designated the National Union of Jerks), those he employs have from time to time launch deplorable attacks against the British National Party.

The news is that Mr Alexander Lebedev has stated that he will not have enough money to absorb the losses made by his newspapers that together last year generated a loss amounting to £17.4 million Pound.

The reason for this is that his business operations in Russia are not making enough money. His potato business - according to Mr Alexander Lebedev - will generate a profit amounting to £1.25 million Pound which is visibly not  enough to plug the hole generated by his newspapers in the United Kingdom.

Mr. Lebedev has reportedly lost his banking operation and lost his license for his airline business. This is not the first time a Russian oligarch with business interests in London has end up in tears. A few months ago, Boris Berezovsky who had reportedly lost most of his assets, was found dead.

Some time ago during an television interview, Mr. Lebedev boasted that the losses made by his newspapers in the UK were not something to worry about given his financial muscle. Times have changed. Ah, by the way, the latest interview during which the former KGB agent talked about his financial troubles was done The Guardian newspaper, another loss making operation that also follows the guidelines of the NUJ that, incidentally, faces financial difficulties.

This is starting to look like a question for Have I got News for You: what do Alexander Lebedev, The Guardian Newspaper and the NUJ have in common?

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