Toy boy for Liz

Hurley moves on with billionaire

Elizabeth Hurley is bouncing back from her failed engagement with Shane Warne by reportedly romancing a Russian billionaire 15 years her junior.

The actress, 48, was seen entering the luxury building of newspaper tycoon Evgeny Lebedev, 33, last week, where she stayed for several hours before the duo left together in a chauffer-driven Bentley.

The date comes just three weeks after Hurley reunited with former flame Warne for a Valentine's weekend but the Australian cricket legend was seen entering the hotel room of lingerie queen Michelle Mone just hours later.

Hurley's rumoured new beau will unlikely be phased by the media frenzy that surrounds his lady love, with Lebedev having already gained a reputation as a playboy after enjoying flings with Spice Girl Geri Halliwell and model Sophie Dahl in the past.

The son of businessman and former KGB agent Alexander, Lebedev is one of the UK's youngest media moguls; he owns the London Evening Standard and The Independent newspapers.

Sources said Lebedev and Hurley had been friends for a while but their romance only blossomed after the model split with Warne.

Meanwhile, the brunette will soon grace the small screen in US network E!'s first original scripted series. Titled The Royals, the show will "offer a fictional look behind the very public gilded facade of the palace gates to imagine the private, lush, fun, sexy world of the most-watched celebrity family" and will see Hurley play lead Queen Helena.

The series is set to air in 2015.