GB News owner buys Spectator magazine for £100m

Published On Sep 10, 2024, 9:31 AM

Sir Paul Marshall, a hedge fund tycoon, has successfully acquired The Spectator, a prominent right-wing magazine, for £100 million, defeating around 20 other bidders. The sale follows the collapse of a previous bid backed by foreign investors due to new UK legislation. Marshall aims to enhance the magazine's investment and editorial quality. Alongside this, he is a potential buyer for the Telegraph newspapers, which are also up for sale after being previously seized for unpaid loans. His commitment to further investment is expected to positively impact The Spectator's operations while maintaining its editorial independence.