Canadian Billionaire Acquires 27% Stake in Iconic Economist Magazine
Renowned Canadian billionaire Stephen Smith has purchased a significant 26.9% stake in The Economist Group, marking a major ownership shift for the 183-year-old news publication.
Canadian billionaire Stephen Smith has acquired a 26.9% stake in the parent company of the renowned Economist news magazine, in only the third significant ownership structure change in the publication's 183-year history. Smith, through his family holding company Smith Financial Corp, which owns various financial businesses including co-ownership of the influential proxy advisory group Glass Lewis, has purchased the stake previously held by Lynn Forester de Rothschild.
The move marks a notable shift in the ownership of the iconic Economist magazine, which has long been known for its high-quality journalism and global influence. The Economist Group (TEG), the parent company of the publication, has seen only two other major ownership changes in its long history, underscoring the significance of Smith's investment.
Source: The Guardian
