Old editors return to Forbes Russia after its sale to a new owner

The embattled news outlet Forbes Russia now has a shiny, new owner and old, returning editors. Alexander Fedotov’s media group ACMG has sold the magazine to Magomed Musaev, the son-in-law of former Dagestani leader Ramazan Abdulatipov. Nikolai Mazurov will come back as chief editor, and former chief editor Nikolai Uskov has signed on to be the publication’s new editorial director.

What’s the big deal about a media outlet changing hands?

Forbes Russia has been a right mess for the past few months. The newsroom temporarily went on strike, after management refused to pay them their salaries. Fedotov quarreled with Uskov in court, but the two have now reportedly dropped their lawsuits. In late July, the Forbes Russia editorial board appealed to state prosecutors about the disappearance of an article from the August issue about the family business of Ziyavudin and Magomed Magomedov. Afterwards, Fedotov promptly fired Nikolai Mazurov and hired Andrey Zolotov, who had no experience working in business journalism. The editorial board then called on Forbes Media to reject Zolotov’s appointment.

How did Forbes Russia end up such a mess?

In late 2015, the German publishing house Axel Springer was forced to sell Forbes Russia to a Russian enterprise because of legislation adopted in 2014 that limits foreign ownership in media outlets to 20 percent. When ACMG acquired the publication for a rumored $7 million, Alexander Fedotov told RBC that he would seek to “depoliticize” the magazine, which is exactly what led to his newsroom meddling.