The Economist Group is a global media and information services organisation best known for publishing The Economist, which is subscribed to by more than 1.25 million readers globally. Based in London, it delivers independent journalism, analysis and data across print, digital, events and specialist research platforms.
“Since its first issue in 1843, The Economist has played a vital role in informing global debate through rigorous, insightful journalism grounded in firmly established editorial independence. As a lifelong reader, I feel extremely proud to support the company as a long-term shareholder. I have great confidence in the leadership team and am committed to supporting their continued success expanding The Economist’s reach and relevance”, said Stephen Smith.
“I am delighted that our shares are now in the hands of another family devoted to long-term ownership, editorial independence and the values that have made The Economist great for almost two hundred years”, said Lady de Rothschild.
“At a time of extraordinary global upheaval, The Economist Group’s independent, fact-based journalism and analysis are more important than ever. We are delighted to welcome Stephen Smith. I am sure we will greatly benefit from both his experience as a business leader, including as the founder and Chairman Emeritus of First National Financial Corporation, and his support of The Economist Group’s values”, said Paul Deighton, chair of The Economist Group.
Barclays and Slaughter and May advised Smith Financial as financial adviser and legal adviser, respectively. The Sellers were advised by Lazard & Co., Limited and Freshfields as financial adviser and legal adviser, respectively.
Financial terms of the transaction have not been disclosed.
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