GB News owner buys Spectator magazine for £100m
The right-leaning political magazine has been sold to the hedge fund tycoon Sir Paul Marshall.
The sale of the right-leaning magazine, which counts former Conservative Prime Minister Boris Johnson among its contributors, was announced on Tuesday.
Marshall, who is also a major investor in GB News, said he was "delighted" to have acquired the Spectator.
"The Spectator is a world-renowned publication with a rich history and a reputation for independent journalism," he said.
"I am committed to maintaining the Spectator’s high standards of journalism and its commitment to free speech."
The Spectator was founded in 1828 and has been owned by a variety of proprietors over the years, including the Astor family and the late Conrad Black.
The magazine has a weekly circulation of around 60,000 and is known for its witty and often acerbic commentary on politics and culture.
The sale of the Spectator comes at a time when the media landscape is undergoing significant change.
Traditional print media outlets are facing increasing competition from online news sources, and many have been forced to cut staff and reduce their print runs.
However, the Spectator has bucked this trend and has continued to grow its circulation in recent years.
This is likely due to its unique brand of journalism, which appeals to a niche audience of conservative readers.
It remains to be seen how the Spectator will fare under its new ownership.
However, Marshall has pledged to maintain the magazine’s high standards of journalism and its commitment to free speech.
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