Word: lebedev
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...Following on the heels of his purchase of London's Evening Standard last year, the announcement of the Independent deal Thursday, March 25, confirms that Lebedev is indeed building a budding media empire in London. But at this stage, his plans are still something of a mystery to rivals and commentators alike. The Independent's position is so weak that carrying on with its existing strategy - offering an internationalist, liberal alternative to the right-leaning Telegraph and the more centrist Times of London - would be commercial suicide. The already small readership of the Independent is declining faster than that...
...Times of London, some insiders believe the Independent might go the other way and start giving the paper away for free - the strategy adopted by the Evening Standard after Lebedev purchased it. Rivals have estimated that the move could cost Lebedev about $45 million a year in sales revenue - but it could also boost advertising if it increases readership. In an interview with the Times of London in January, Lebedev was ambiguous: "Let's assume we make the Indy free. You'd affect seriously the business models of other newspapers, and frankly, that's a very important reason...
...Among some journalists at the Guardian, the belief is that Lebedev will be more cautious and drop the price of the daily paper from ?1 to 50 pence in order to undercut the competition. This strategy is certainly more realistic. Lebedev can afford to take the financial risk, having made a fortune through the $668 million sale of his stake in Aeroflot, the Russian airline, and other businesses in his native country earlier this year...
...late-night television program Newsnight; and Rod Liddle, the outspoken former editor of BBC Radio 4's Today program, whose candidacy faltered recently amid a controversy over a blog he wrote blaming black men for crime in London. What the hunt for a famous name shows is that Lebedev does not plan to conduct business as usual. A celebrity editor will generate publicity and, it is expected, oversee a repositioning of the title toward the center ground currently held by the Times of London. But battling with Murdoch, and indeed vying with the rest of London's ultra-competitive Fleet...
...Read "Alexander Lebedev: Rich Advice...