Russian businessman Alexander Lebedev, who owns the British Evening Standard and The Independent newspapers, is to sell two Russian radio stations to billionaire Mikhail Gutseriyev for $14 million, RIA Novosti reported citing the May 16 edition of Kommersant business daily.

Lebedev decided to sell Prosto Radio and Dobriye Pesni stations after the crisis and was looking for an opportunity to sell the stations with minimal losses, a source close to Lebedev told the paper.

Gutseriyev's plans for the radio stations are unknown.

Pioner FM was ranked 32nd in the top 52 rating of most popular radio stations in Russia, while Dobriye Pesni was in the 50th place, according to marketing company TNS.

Lebedev also owns two Russian newspapers, Novaya Gazeta and Moskovsky Korrespondent.