Evening Standard owner Lebedev eyeing Metro buyout

ESI Media owner mulls Metro buyout

The owner of the Evening Standard and Independent is reported to have made a move to buy the Metro newspaper from the DMGT.

DMGT, publisher of the Daily Mail and Mirror, has been considering a sale of the Metro as part of a broader business review.

Metro saw a 9% decline in ­underlying revenues last year to £65m and suffered a 12% fall in operating profit.

The newspaper has been valued at between £25 and £35m.

According to The Telegraph, ESI Media boss Evgeny Lebedev is said to be interested in adding the Metro to its portfolio with a view to using its nationwide distribution network to launch regional versions of the Standard.

DMGT has not commented on the reports.

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