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. Last Updated: 07/27/2016

07/11/1997

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Izvestia Editor Concedes Defeat

Igor Golembiovsky, the beleaguered editor of the influential Izvestia daily, admitted Thursday that he has lost his months-long struggle for control of the paper. Appearing tired and disappointed, Golembiovsky, 61, said at a press-conference that he would not take part in elections for a new chief editor on terms imposed by LUKOIL and Uneximbank, two investors who have taken control of the Izvestia board away from the paper's journalists. ""It is pointless,"" the outgoing editor said sadly. ""They openly say that no matter how the vote will go, I will not be appointed anyhow."" He is also sure that none of his key supporters will be picked by the board. Despite assurance made during the takeover battle that journalists would retain editorial control, last week the new board controlled by LUKOIL and Uneximbank decided that electing an editor was largely the board's prerogative. The election is due July 18.

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