RIA Novosti’s headquarters in downtown Moscow (Photo credit: RIA Novosti)

Two years ago, Russian news agency RIA Novosti (Russian Information Agency News) was awarded national host agency and photo pool rights for the Olympics in Sochi. On Monday, with less than two months before the opening ceremony, President Vladimir Putin has signed a decree to dissolve the state-owned news agency.

According to the head of the presidential administration, Sergey Ivanov, multiple reasons led to the decision, including a planned decrease in funding for state-owned media and the need for increased efficiency in reporting.

Instead, a new agency, named Russia Today, shall be created. It’s unknown if the new agency will be related to the English-language TV channel of the same name. Their avowed goals are similar: provide news from Russia to a foreign audience.

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