In a significant move that merges the worlds of finance and media, hedge fund titan Paul Marshall has acquired the influential British publication, The Spectator, for £100 million ($131 million). This acquisition marks a notable expansion of Marshall’s media portfolio, which already includes investments in UnHerd and GB News.
Marshall, the chairman of Marshall Wace LLP, a global hedge fund managing $66.6 billion in assets, secured the deal through his Old Queen Street Media vehicle. The transaction, which values the 196-year-old magazine at a premium, underscores the growing trend of financial heavyweights entering the media landscape.
The acquisition of The Spectator, known for its significant influence in Conservative circles, aligns with Marshall’s right-leaning media interests. Old Queen Street Ventures has expressed plans to expand the magazine’s reach across “the Anglosphere and in North America,” signaling potential growth strategies.
This deal comes amidst a broader reshuffling in British media ownership. The Spectator was put up for sale alongside the Telegraph Media Group after a previous Abu Dhabi-backed acquisition attempt was blocked by the UK government. Marshall remains a contender in the ongoing bidding process for the Telegraph newspapers, with bids due later this month.
The hedge fund chief’s foray into media ownership reflects a growing intersection between finance and publishing, potentially reshaping the landscape of British political journalism.