Skip to comments.Publisher Shuts Russian Newsweek (Dinosaur Media DeathWatch™)
Posted on 10/18/2010 2:20:58 PM PDT by abbEdited on 10/18/2010 3:07:57 PM PDT by Admin Moderator. [history]
Russian Newsweek, one of the last remaining independent national news publications in the country, published its final issue Monday as its owner said it would no longer support the money-losing title.
Axel Springer AG, the German media conglomerate that has published Newsweek in Russia under license since 2004, said the decision to shut it down was "economic." People close to the situation said efforts to find a buyer for the magazine—which was racking up losses of more than €1 million ($1.4 million) a year—were unsuccessful, though at least one wealthy Russian investor had expressed initial interest.
Not even sold for a ruble?
It’s not the same crypto-communist rag it is in the U.S. Springer licenses the name, and then does what he wants.
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Alger Hiss, wherever he is smoking so to speak, is deeply saddened.