“Lord Lebedev’s Saudi co-investor has become a decisive influence in the future of the brand. Sultan Mohamed Abuljadayel, who hails from a family with major international property investments, bought a 30% stake in the Standard’s parent company for £25m in 2018.
Yet with losses amounting to £84.5m over the last six years, Lord Lebedev finally agreed to a cost-cutting plan to shut down daily publication of the paper, which is just three years shy of its 200th anniversary.” —