Hedge fund investor snaps up UK’s The Spectator magazine for $131 million

LONDON (AP) — A hedge fund investor has bought The Spectator, one of the world’s oldest political magazines, for 100 million pounds ($131 million) 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, which launched three years ago as a right-leaning, Fox News-style alternative to the mainstream news channels. His takeover of The Spectator came after Britain’s government blocked a United Arab Emirates-backed consortium from buying the Telegraph Media Group, owns the Daily Telegraph and Sunday Telegraph newspapers and The Spectator. The publications are closely allied to Britain’s Conservative Party.