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Russia's businessman Alexander Lebedev buys the British newspaper the Independent for one pound, but within five years, he promises to invest millions, reported on Monday the online version of the Times.
In 2009, Lebedev had already become the owner of a majority stake in the London evening paper Evening Standard. The newspaper has also been given to him for the symbolic sum of one pound, but Lebedev pledged to cover losses of the Evening Standard.
As expected, the deal, under which Lebedev will have control over the nationwide Independent and Independent on Sunday, will be done before March 24, 2010, after the media group Independent News & Media publishes the annual financial results.
Nat Lawyer
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