President of the Wafd opposition party Al-Sayed al-Badawi on Sunday sold all his shares in independent daily Al-Dostour to Reda Edward, executive chairman of the newspaper's board of directors.
“I just wanted my money back,” said al-Badawi. “And Edward offered me 50 percent more than what Medialine Company President Alaa al-Kahki offered.”
Edward said he purchased the shares in order to prevent “the paper's reporters from taking control of the board.”
He added that former Al-Dostour chief editor Ibrahim Eissa would not return to work for the paper.
Last week, Eissa–known for his vociferous criticisms of the Egyptian regime–was abruptly sacked. Eissa's supporters say the move was "politically motivated."
Edward, for his part, declined to talk about the identity of the next chief editor. “We're currently negotiating with Adel al-Kady to act as the executive chief editor for now,” he said.
Al-Kady, however, said he planned to meet with the newspaper's reporters before accepting the offer. “Edward is not listening to reporters' demands,” he said.
Should al-Kady assume the position, he plans to appoint a managing director to serve as a liaison between the paper's reporters and board of directors.
Translated from the Arabic Edition.
