LONDON Billionaire former KBG agent Alexander Lebedev is to buy the London Evening Standard on Thursday, according to a report in the Guardian's Thursday edition.
The paper says that under the terms of the deal, Lebedev will purchase 76 percent of the newspaper, with the Associated Newspapers group retaining 24 percent.
The paper says a source close to owner Daily Mail & General Trust told it the deal was "still very much alive."
A spokesman for the company was not immediately available to comment.
However, the Evening Standard's managing editor, Doug Wills, told Reuters: "All I know is what we've read on Media Guardian, I know no more than that."
(Reporting by Ben Deighton; editing by Matthew Lewis)