10th September 2024
Old Queen Street Ventures Limited (“OQS Media”) has completed the acquisition of The Spectator, the world’s oldest magazine and one of Britain’s most iconic media brands.
The acquisition will provide The Spectator with access to the investment, expertise and facilities to grow as part of the wider OQS Media portfolio. OQS Media also owns and operates the online magazine UnHerd, the Old Queen Street Café, the UnHerd Club and CoEditor Limited, a publishing technology startup. UnHerd and The Spectator will remain fully separate titles, with independent editorial and governance structures.
Alongside The Spectator, renowned international art magazine Apollo will also join the OQS Media portfolio. Founded in London in 1925 and published monthly, Apollo is one of the world’s oldest and most respected magazines on visual arts.
OQS Media, which is owned by British entrepreneur and philanthropist Sir Paul Marshall, will prioritise investing in journalism, talent and the latest technology, with the aim of building a strong future for The Spectator and supporting it to reach new audiences. A particular focus will be given to expanding the magazine’s reach in the Anglosphere and in North America, as well as using OQS Media’s digital expertise to enhance the experience of Spectator readers by innovating across technology, video and audio.
Freddie Sayers, who is Editor-in-Chief of UnHerd and has been CEO of OQS Media since 2019, will remain CEO of the expanded group and become Publisher of The Spectator and Apollo. Over the past five years, UnHerd has grown its audience more than ten times, launched a successful paid subscriber model and opened a highly profitable restaurant-events space.
Freddie Sayers, CEO of OQS Media, said:
“The Spectator is an iconic British media brand and one of the great publications of the English language, representing a wit, intelligence and playful articulation of important principles that has no equal.
“It is a very different publication to UnHerd, with its own politics, atmosphere and interests, and we are committed to helping both publications develop independently — alongside Apollo, the international art magazine that will also join the group.
“Our ownership will not only add energy, global ambition, and digital innovation, it will invest in journalism and be committed to the highest standards, with a dedication to the core principles which underpin a free press: accurate presentation of news and free expression of opinion.
“I look forward to working alongside The Spectator’s world-class team to make sure it continues to flourish and reach new audiences.”
Sir Paul Marshall, Chairman of OQS Media, said:
“As a long-term Spectator reader, I am delighted it is joining the OQS stable. The plan is for OQS to make good previous underinvestment in one of the world’s great titles.
“I am confident that OQS will be a fine custodian, building on the Spectator’s values and successful track record.”
OQS Media was advised by Moelis & Company, White & Case LLP, Hanbury Strategy and Ernst & Young.