Latvia, Markets and Companies

Newspaper Bizness&Baltija (B&B) reports today that "Telegraf" has been sold to a Cyprus-registered company, which possibly belongs to entrepreneurs from Ventspils who support the National Harmony Party.

B&B reports that, according to unofficial information, one of the owners of the Cyprus-registered company is Olegs Stepanovs – a Ventspils businessman and one of the opponents of Ventspils Mayor Aivars Lembergs.

Today's issue of "Telegraf" features Belokons' statement confirming that he has decided to sell "Telegraf" because the newspaper requires large investments and it is becoming increasingly difficult to do business in the printed media market in Latvia.

News media group board chairman Janis Jurkans informs that the newspaper has been acquired by a small group of investors, which he represents.

Jurkans affirms that the new owners' policy is not to interfere in the newspaper's plans, on the contrary – to carry out projects to promote the development of the newspaper.