Finance
Hedge Fund Chief Paul Marshall Buys Spectator for £100 Million
- Magazine hived off from the ongoing bidding for the Telegraph
- A UAE-backed group is selling the titles after political furor
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Hedge fund manager Paul Marshall agreed to pay £100 million ($131 million) for the Spectator, a politically influential British magazine that’s known to exert a big sway over the Conservative Party.
The billionaire chairman and founding partner of Marshall Wace LLP emerged as the winner in the race for ownership of the weekly, which was hived off in an ongoing bidding process for the right-leaning Telegraph Media Group.