World Economy

Selling Stakes in Russian Media

Selling Stakes in Russian MediaSelling Stakes in Russian Media

Dow Jones and Pearson announced they were planning to sell their shares in Russia’s “Vedomosti” daily to local businessman Damian Kudryavtsev, DW reported.  A third foreign stakeholder, Finnish media company Sanoma, had agreed as early as April to sell its shares, meaning that by the end of this year “Vedomosti” looks set to be put completely under Russian control. Some experts worry this may make it more vulnerable to Kremlin pressure and influence. Legislation passed last year caps foreign media ownership, forcing the daily to bring total foreign stakes to under 20% before February 2016.