Snipe - The Scoop

Wednesday, 21 January 2009

Evening Standard the latest victim of price crash

"With four bedrooms, two bathrooms and a garage, it used to be the most expensive house on the street at £40,000."

Scooped the Evening Standard last year.

"Now a detached home in the U.S. city of Detroit has been sold for just 50p."

Sad news. But then if nobody wants to buy it, I guess you have to take what you can get. Speaking of which:

"Russian oligarch Alexander Lebedev has today succeeded in his bid to buy the London Evening Standard from Lord Rothermere's Daily Mail & General Trust, for a nominal sum, understood to be £1."

One pound!

"The deal, which sees Lebedev take a stake of 75.1% in the loss-making Evening Standard, is a watershed moment for the struggling UK newspaper industry..."

You're telling me. Now if only he could have spared another 33p he could have bought himself a newspaper.


-Update-
Anton Vowl faces up to a dilemma

6 comments:

Tony said...

I've spent at least two pounds on the Evening Standard in the past week. I want a refund.

Chris said...

It is a sad day for all the people who are going to lose their jobs over this. One of those people is showing her leadership skills:

http://www.guardian.co.uk/uk/davehillblog/2009/jan/21/london-london

AdamB said...

Poor ol Wadski. Maybe if she hadn't alienated half the capital then the Standard wouldn't be in this mess.

Tom said...

Anyone else notice that comments are not allowed under the Standard's story about the takeover?

http://www.thisislondon.co.uk/standard/article-23624766-details/New+owner+and+new+future+for+the+Evening+Standard/article.do

I for one welcome our new plutocratic overlords.

AdamB said...

Comments off, a Stalinist editorial line and an editor in hiding. Some things they change. Some things they stay the same.

Anonymous said...

I was in WH Smith buying as magazine, and three assistants informed me that I could get £1 off the price of the magazine if I bought the ES (which gave me three opportunities to say in a loud voice that I wouldn't take the ES even if they paid me £10 to take it away).

Guano