Word: millions
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Dates: during 2010-2019
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...wanted to buy a struggling paper. The Independent sells only around 100,000 copies in the U.K. on a typical weekday, trailing London's four other quality dailies - the Daily Telegraph, Rupert Murdoch's Times of London, the Financial Times and the Guardian - and consistently loses about $15 million a year. Lebedev, whose first experience in London was as a KGB agent in the 1980s, offered a characteristically enigmatic response: "Well, either I am a Russian spy, or I am mad, or I believe you can make money out of newspapers...
...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...
...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...
...hopes to renovate and move into their state-of-the-art facilities in early 2011—a project that will cost more than 18 and a half million dollars, with the move itself costing one million dollars, according to MCZ Director James Hanken...
With the move now seemingly definite, the MCZ staff is finalizing plans for the renovation and move of at least 10 million artifacts one tenth of a mile down the street—a move that will allow the MCZ to continue growing without worrying about the condition of its specimens...