Tycoon Paul Marshall buys ‘The Spectator’ magazine for $131 million dollars
The British political magazine «The Spectator,» a symbol of conservatism, was purchased by businessman Paul Marshall from the RedBird IMI fund of Abu Dhabi for a sum of 100 million pounds (131 million dollars), the firm said on Tuesday.
After a protracted auction procedure to locate a new owner, the acquisition—completed through the billionaire’s Old Queen Street Ventures company—has been finalized.
Until last year, ‘The Spectator’ was owned by the Barclay family, but was put up for sale to help pay off its debts to lenders from banking firm Lloyds.
It was thus sold to the RedBird IMI media consortium, a group backed by the United Arab Emirates and U.S. investment firm RedBird, through a $600 million call option.
