Hedge fund investor buys UK political magazine The Spectator for $131 million

Associated Press

LONDON (AP) — A hedge fund investor has bought political magazine The Spectator for 100 million pounds or $131 million. The sale announced on Tuesday came after a months-long search for a new owner for the publication. Millionaire Paul Marshall is already the co-owner of U.K. channel GB News. His takeover of The Spectator came after the U.K. government blocked a United Arab Emirates-backed consortium from buying the Telegraph Media Group. The group owns the Daily Telegraph and Sunday Telegraph newspapers and The Spectator. The publications are closely allied to Britain’s Conservative Party.