Sir Paul Marshall, a prominent figure in finance, has acquired The Spectator for £100m, overcoming 20 rival bidders to secure the right-leaning publication.
Andrew Neil, The Spectator's chairman, announced his resignation following the acquisition, reiterating his long-standing belief that hedge funds should not own news outlets due to potential conflicts.
Established in 1828, The Spectator is one of the oldest political magazines globally, and Sir Paul aims to address previous underinvestment issues in the publication.
The acquisition by Sir Paul Marshall signals a growing trend of hedge funds entering the media space, with him eyeing further investments in right-wing publications.
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