British news magazine The Spectator has been sold to businessman Paul Marshall by US-UAE joint venture RedBird IMI.
The right-leaning magazine was sold for £100 million ($131 million) in a deal conducted separately from the intended sale of the Telegraph Media Group.
Both titles were owned by the Barclay family until their debts were acquired last year by RedBird IMI, a joint venture between RedBird Capital Partners in New York and Abu Dhabi company International Media Investments, which owns The National.
RedBird IMI had proposed the acquisition of The Spectator and the Telegraph Media Group after taking on their debts from the Barclay family, but the UK government launched legislation in March limiting foreign ownership of newspapers. The previous owners lost control of the titles to Lloyds Bank last year.
Telegraph auction
RedBird IMI said the sale of The Spectator to Mr Marshall's Old Queen Street Media was a milestone in its commercial strategy. It said in a statement that the Telegraph auction was under way with strong interest from bidders globally.
"We are pleased this process was completed swiftly and smoothly, maximising value and providing certainty to The Spectator staff and their growing readership," said IMI chief executive Rani Raad. "The next phase of the sale of the Telegraph Media Group continues with strong interest from UK and international groups."
Jeff Zucker, chief executive of RedBird IMI, said the sale accomplished its aim of finding a viable buyer for The Spectator and "makes strong economic sense". He said the company expects to "have the same success as we pursue a buyer for the Telegraph Media Group".
Mr Marshall, The Spectator's new owner, is an investor in TV channel GB News and owner of the website UnHerd. Financial advisers including Raine, Robey Warshaw and Moelis & Company were involved in the sale.
RedBird IMI acquired UK production company All3Media for £1.15 billion in May. IMI also owns Sky News Arabia, Al Ain News and CNN Business Arabic, and has a minority stake in Euronews.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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ARGENTINA SQUAD
Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez
