Canadian billionaire Stephen Smith takes 27% stake in economist group

"Smith, 74, is purchasing the stake through his family investment vehicle, Smith Financial, in a deal that underscores continued global investor confidence in one of the world's most influential media brands. While financial terms have not been disclosed, the transaction represents a notable reshaping of the group's ownership, with the Rothschild family exiting a long-held position."

"Founded in 1843, The Economist Group has built its reputation on championing free trade, liberal economics and independent journalism. That editorial positioning has historically shaped its ownership model, with shareholders often selected not only for financial backing but for alignment with the publication's values and governance principles."

"A spokesperson for Smith confirmed that the investment reflects his "full support for The Economist's longstanding tradition of rigorous editorial independence", a key consideration in any change of ownership at the publication. Maintaining that independence is central to the group's structure, with safeguards embedded in its governance to ensure editorial decisions remain insulated from shareholder influence."

Stephen Smith, a 74-year-old Canadian billionaire, has purchased a 26.9 percent stake in The Economist Group through his family investment vehicle, Smith Financial, from Lynn Forester, Lady de Rothschild. This transaction represents the first significant ownership shift at the publisher in more than a decade, following Pearson's 2015 sale of its majority holding to the Agnelli family's Exor, which remains the largest shareholder with 43.4 percent. Smith's investment positions him as a major minority shareholder alongside Exor. The Economist Group, founded in 1843, maintains a shareholder structure emphasizing editorial independence and alignment with the publication's values of free trade, liberal economics, and independent journalism. Smith's investment reflects his support for the publication's editorial independence, a principle central to the group's governance structure.

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