Russian businessman Yevgeny Lebedev, who owns a number of media assets in Britain (in particular, the Evening Standard and The Independent newspapers), is negotiating the sale of the London Live television channel, The Guardian newspaper reported. According to newspaper sources, Mr. Lebedev is in talks with That`s Media, which owns licenses for 20 local television channels. Prior to this, Mr. Lebedev held talks with David Montgomery, who previously headed the media corporation Mirror Group, and subsequently created the Mecom Group investment company, specializing in transactions with newspapers, television channels and other media assets.
Evgeny Lebedev, along with his father, businessman Alexander Lebedev, acquired London Live six years ago. Then it was assumed that the television company would increase the profitability of their portfolio of media assets. But in the end, the television company turned out to be unprofitable, in 2017 there was even talk of its bankruptcy. The company's losses now amount to 30 million.
London Live declined to comment on the negotiations.