Gazprom buying into Pravda

Russian gas monopoly Gazprom, which is extorting equity from Shell, Mitsui and Mitsubishi in the Sakhlin 2 LNG project, is also buying up large parts of the Russian press. The Editor's Web Log quoted AFP in April: Russia's state controlled gas giant Gazprom is set to increase its control over the country's media through the potential purchase of Komsomolskaya Pravda, the paper with the largest circulation; 817 000 copies daily in 2004 (statistic from World Press Trends 2005). Gazprom, however, would not confirm this report. The company is also rumoured to be considering buying the broadsheet Kommersant. The Russian government has been criticised for using Gazprom as a means to tighten its control over the media. For example, last June it bought a large percentage of shares of the independent newspaper Izvestia (see previous posting). This past weekend Russia saw protests precisely against state interference in the media sector (see previous posting).Gazprom is both earning big...(Read Full Post)