(newsrealtime) -- Lynn Forester de Rothschild is exploring the sale of a significant minority stake in The Economist Group, marking the first ownership change in a decade at the 182-year-old magazine read by both the political and business elite.
A sale process for around 20% in voting shares could start in the coming weeks and fetch between £200 million ($271 million) and £400 million, according to people familiar with the matter, who asked not to be identified because the discussions are private. Forester de Rothschild is working with adviser Lazard Inc., and any sale is expected to attract high-net-worth individuals, family offices and strategic investors looking for deals in the premium media sector, the people said.
The businesswoman is conducting a strategic review of her stake as part of a longer-term reshaping of her investment portfolio, some people said. The Economist's last major ownership change took place in 2015, when education company Pearson Plc sold sold most of its half stake to Italy's Agnelli family, which became the largest investor with a 43.4% stake held by its Exor NV investment firm.
The Economist Group includes the Economist magazine, website, app and podcasts as well as the Economist Intelligence Unit, which provides research on macroeconomic and geopolitical topics, and Economist Impact, which organizes events and policy research.
Telecom Business
The group, which employs 1,540 staff in 26 countries, reported revenue of £369 million and operating profit of about £48 million in the year to March 31, according to its 2025 annual report. Subscriptions increased 3% year-on-year to 1.25 million, driven by digital subscriptions, which accounted for 85% of new hires.
Forester de Rothschild, who founded the telecommunications company FirstMark Communications during the late 1990s tech boom, married the late Evelyn de Rothschild in 2000. The pair established E.L. Rothschild LLC, a family office with interests in private companies, public markets and real estate. A well-known business figure, she is stepping down from the board of Estee Lauder Cos. this year after serving on it for 25 years and founded the Council for Inclusive Capitalism .
No final decision has been made regarding a potential stake sale by Forester de Rothschild, and the size and details of the divestment could still change. A representative for the Eranda Rothschild Foundation, a British charity where Forester de Rothschild serves as a trustee, declined to comment. Forester de Rothschild did not immediately respond to LinkedIn messages seeking comment, while Lazard declined to comment.
E.L. Rothschild and the Eranda Foundation are long-term investors, as well as generous supporters of the Economist Educational Foundation. They regularly conduct strategic assessments of their portfolio and evaluate potential opportunities," a spokesperson for the Economist Group said in an emailed statement. "They are working constructively with the company on the eventual outcome.
Evelyn de Rothschild, who passed away in 2022, was a key driver for the long-planned goal of bringing together the family’s London investment bank with its French counterpart. That was seen as a key step in remaining competitive with much younger - but also bigger - multinational banks.
Earlier this year, news realtime News and the Guardian reported that Evelyn de Rothschild has been accused of sexually assaulting several women in the three decades before his death.
Famous Owners
The Economist's share capital is divided into ordinary shares, "A" special shares, "B" special shares and trust shares. The ordinary shares are mostly held by current and former employees and wealthy business dynasties including Exor, which owns all the B shares.
There are more than 100 holders of the "A" special shares, including long-standing family holdings and employees. The Rothschild family controls 26.7% of the issued share capital overall, according to the 2025 annual report. Other prominent shareholders include the Cadbury family and the Schroder banking dynasty, as shown on the Economist website.
No individual or investors acting in concert can hold shares carrying more than half in value of the dividend rights of the company. The trust shares are held by trustees, whose consent is needed for certain corporate activities and whose aim is to ensure editorial independence, according to the website.
John Micklethwait, current editor-in-chief of newsrealtimeNews and former editor-in-chief of the Economist, still owns shares in the Economist Group and was not involved in the reporting and editing of this story.
(Updates with comment from Economist Group in eighth paragraph.)
Most Read from newsrealtime
- Homeless Advocates Sue HUD Over Ideology Tests for Grants
- LIRR Plans to Run Free Bus Service If Workers Strike
- Chicago Schools Return to Muni Market in High Yield Rally
©2025 newsrealtimeL.P.
0 komentar:
Posting Komentar