Moscow
MIN -7
MAX -5
Mostly Sunny / 08:58 AM / Traffic

Novaya Gazeta Has No Cash for Staff

Billionaire banker and Novaya Gazeta shareholder Alexander Lebedev said Tuesday that no funds are available to pay the newspaper's staff, since his National Reserve Bank currently makes a loss and has been "paralyzed" by Central Bank inspections, Gazeta.ru reported.

The Central Bank has been conducting checks of Lebedev's personal accounts, including those he uses to finance the liberal newspaper and other humanitarian projects.

On Friday, Lebedev's bank was searched by Federal Security Service agents. A spokesperson for the FSB did not clarify the reason for the search, Reuters reported.

Lebedev, a former KGB agent who has become a vocal critic of the political system established by Vladimir Putin, said he plans to sell assets he owns in the near future and use the proceeds to pay the Novaya Gazeta staff.

But for now, he has agreed with the staff that "the journalists will be prepared to work without pay for some amount of time," he said, Gazeta.ru reported.

See also:

French Paper Owned by Billionaire's Son Goes Bankrupt

Lebedev to Create Investigative News Channel Online

Canceled Show to Be Revived Online

From the Web

The Moscow Times is happy to serve as a platform for intelligent and constructive discussion.
Any comment deemed non-constructive, personal attacks, spam and abuse will not be tolerated and will lead to you being banned from our website.
comments powered by Disqus