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10:22
ISTIL GROUP OWNER BUYS KYIV POST

Kyiv, July 29 (Interfax-Ukraine) – KP Media Holding has sold the Kyiv Post English-language newspaper to Mohammad Zahoor, a UK businessman who owns the ISTIL Group.

According to an official statement posted on the newspaper's Web site, the employees of the newspaper and its Internet site were told about the deal on Wednesday.

As reported, Kyivsky Media Holding decided not to purchase the Kyiv Post newspaper and Afisha magazine, dropping its plans because of unsatisfactory financial indicators.

Other KP Media properties include the Korrespondent and Afisha magazines, bigmir.net portal and Korrespondent.net news Web site. Because of financial difficulties, the holding had to close some of its projects.

International Steel&Tube Industries Limited (ISTIL) is a group of companies founded in 1991 by UK citizen Mohammad Zahoor. One of its other media assets is ISTIL Studios (formerly Savik Shuster Studios, which produced the Shuster Live Show on the Ukraina Television Channel).

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