{"id":95680,"date":"2024-09-11T00:00:00","date_gmt":"2024-09-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/paul-marshall-acquires-the-spectator-from-redbird-imi\/"},"modified":"2024-09-11T00:00:00","modified_gmt":"2024-09-11T00:00:00","slug":"paul-marshall-acquires-the-spectator-from-redbird-imi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/11\/paul-marshall-acquires-the-spectator-from-redbird-imi\/","title":{"rendered":"Paul Marshall acquires the Spectator from RedBird IMI"},"content":{"rendered":"

B\u2019naire and founding partner of Marshall Wace, Paul Marshall, will acquire <\/strong>the Spectator from Abu <\/strong>Dhabi-backed RedBird IMI for GBP 100 mn (USD 131 mn)<\/strong>, Bloomberg<\/a> reports, citing a statement<\/a> from Marshall\u2019s media company Old Queen Street Ventures. <\/p>\n

Talks between the two parties progressed <\/strong>last month<\/a><\/strong><\/a>, with Marshall\u2019s bid initially valuing the publication at USD 100 mn. Interest in the Spectator and Telegraph papers has been \u201cextremely strong,\u201d a RedBird IMI spokesperson said in June, stating that the firm has been in talks with \u201cseveral interested parties,\u201d including Daily Mail owner DMGT, Belgian Group Mediahuis, and National World.<\/p>\n

Marshall has big plans for The Spectator: <\/strong>The hedge fund owner plans to address what he described as an \u201cunderinvestment\u201d in the UK paper, focusing on \u201cexpanding the magazine\u2019s reach in the Anglosphere and in North America,\u201d according to the statement. <\/p>\n

REMEMBER- RedBird IMI wants to recoup its losses: <\/strong>RedBird IMI, a JV between Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan's International Media Investments and RedBird Capital Partners, was looking to sell the papers<\/a> to recoup the GBP 600 mn invested last year to acquire the assets, before the takeover bid fell through. <\/p>\n

What\u2019s next for the Telegraph?<\/strong> The Telegraph will now be sold separately, with Marshall\u2019s acquisition of the Spectator removing the magazine from the Telegraph bidding. A previous source<\/a> had suggested Marshall is unlikely to be the final buyer for the Telegraph. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Telegraph will now be sold separately<\/p>\n","protected":false},"author":1,"featured_media":95681,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[7,60,40],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-ma-watch","tag-redbird-imi","wpautop","entry"],"acf":{"mongo_id":"18315aa5-f75c-4280-a5ac-a902169bcd13","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/845.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Paul Marshall acquires the Spectator from RedBird IMI for GBP 100 mn","related_issue":[95675],"teaser":"The Telegraph will now be sold separately","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.35e13f3b-8aff-43e7-a3d6-2701de3ba92f.mp3"},"yoast_head":"\nPaul Marshall acquires the Spectator from RedBird IMI - 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