Russian Tech Giant Unloads News Business as Censorship Grows – Bloomberg

Bloomberg News

Yandex NV, Russia’s leading search engine, announced a binding deal to rid itself of its controversial news aggregator, which has been criticized by opponents of the Kremlin’s war in Ukraine for whitewashing evidence of human rights crimes.

Yandex exchanged its news division and a blog site for VK’s Delivery Club, Russia’s biggest food and grocery delivery service, the company said in a statement on Tuesday.

The deals come amid a major shift among Russian technology companies brought on by the war in Ukraine. A top aide of President Vladimir Putin is involved in negotiations over the fate of Yandex with its founder sidelined by European Union sanctions, Bloomberg reported this month.

Yandex agreed in principle to sell the units to VK in April, as the news service was caught between the Kremlin’s increasingly harsh internet crackdown and a backlash in key foreign markets. Two top executives, including founder Arkady Volozh, have been forced to step down after being…

Read Full Story: https://www.bloomberg.com/news/articles/2022-08-23/yandex-unloads-controversial-news-division-in-asset-swap-with-vk

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