Thursday, March 18, 2010

Russian oligarch's son pumps millions to revive French daily

The 25-year-old son of a Russian oligarch close to Vladimir Putin is pumping millions into a bid Wednesday to revive the once widely-read but now struggling daily paper France Soir. As other powerful Russian oligarchs close in on the British press, Alexander Pugachev plans to increase sales of the moribund tabloid tenfold, from current circulation of a pitiful 22,000 to 200,000 copies. With a fresh lay-out, a slew of newly hired high-profile editors and reporters, a giant 20-million-euro advertising campaign, and a slash in its price, Pugachev on Wednesday throws half a million copies on news-stands.

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