The Spectator, a right-leaning British political magazine, has been sold to Sir Paul Marshall, a hedge fund tycoon and investor in GB News. The sale price was 100 million pounds.
Marshall is a controversial figure known for his support of Brexit and his involvement in the Leave.EU campaign.
In a statement, Marshall said he was “delighted” to acquire The Spectator and that he planned to invest in the magazine’s digital presence and “strengthen its position as a leading voice in British journalism.”
The Spectator was founded in 1828 and has been owned by the Barclay brothers since 2004. The magazine’s former editor, Fraser Nelson, said he was “sad” to see the magazine sold but that he was “confident” that Marshall would be a “good steward” of the publication.
The sale of The Spectator comes at a time of uncertainty for the British media industry. The COVID-19 pandemic has led to a sharp decline in advertising revenue, and many media outlets have been forced to lay off staff.
However, Marshall has said that he is confident in the future of The Spectator. In a statement, he said: “I believe that there is a strong appetite for high-quality, independent journalism in the UK. The Spectator has a long and distinguished history, and I am committed to ensuring that it continues to be a leading voice in British public life.”
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