Independent owners' Evening Standard-backed service seen as most lucrative licence to be awarded since Channel 5 in 1997
Alexander and Evgeny Lebedev have won the hotly-contested battle for the local TV licence for London, with Ofcom awarding the franchise to the Evening Standard's London Live bid.
The victory is significant for Independent proprietors the Lebedevs, with the London franchise regarded as the most lucrative new UK TV licence to be awarded since the launch of Channel 5 in 1997.
London Live was one of five bids for the licence, and the Lebedevs will be banking on their entry into the UK TV market helping to move their newspaper assets to profitability.
