Russian President Vladimir Putin says that the takeover of NTV, the only independent television station in the country, is "a matter of the fundamental principles of the market economy." That is a convenient approach when the key shareholder in NTV is Gazprom, the former state company that is headed by a Putin aide. The takeover threatens to silence the only independent media voice in Russia. Russia would be better off if Mr. Putin had as much respect for free and independent media as he does for the workings of the market.

NTV has been a thorn in the Russian government's side since it was founded in the early 1990s. It crusaded against the war in Chechnya, battled corruption and served as an independent voice throughout its existence. Those efforts infuriated the government, but they also won the station a loyal public following.

To silence NTV, the government targeted Mr. Vladimir Gusinsky, the financier behind the station. Mr. Gusinsky is one of Russia's "oligarchs," a handful of men who profited from the sale of state assets a decade ago. The entire privatization process was shady, but the government has targeted only Mr. Gusinsky. He was taken into custody for questioning last year and later fled to Spain to avoid what he calls persecution.