City AM investor revealed

Scottish businessman Kevin Doyle bought a 5% stake in London business free daily City AM already in 2006 according to The Guardian.

Publisher Jens Torpe and Lawson Muncaster, the managing director, the co-founders of the paper, own 45% of the paper between them.

Three Dutch and Russian backers, among them Boudewijn Poelmann (founder of Dutch lottery) and Derk Sauer (former owner of Moscow publisher Independent Media), own the remaining 50%.

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