The Spectator
On Tuesday, the ownership of the Specta- tor was acquired by John Fairfax Limited of Australia, publishers of the Sydney Morning Herald and the Melbourne Age. Mr Algy Cluff, the previous proprietor, will continue as chairman. Charles Moore will continue as editor, and all the staff will continue in their employment. Fairfax, a group only three years younger than the Spectator itself, has undertaken to 'main- tain the Spectator's traditions and its con- cern for excellent journalism'. There is no reason for our loyal readers to be alarmed, and there is good reason for them to expect that the resources of Fairfax will be cap- able of making their number rather larger. Speaking about the reasons for his decision to sell to John Fairfax Limited, Mr Cluff said: 'In the past four years the Spectator has made impressive strides towards pro- fitability. Circulation stands at 21,000 per week, the highest figure for at least 10 years, and advertising revenue in 1984 increased by 70 per cent over the previous year. However, to build on this success and to ensure the long-term survival and uni- que editorial character of the Spectator substantial investment in the magazine is necessary. No private individual could hope to do this. In John Fairfax Limited I have found a company with the resources and experience which will provide for the Spectator to grow and flourish whilst re- specting its traditions.' Mr J. 0. Fairfax, chairman of John Fairfax Limited, said Fairfax was delighted to enter the UK publishing market by acquiring a magazine as respected as the Spectator. Mr Fairfax said Fairfax looked forward to assisting the Spectator in building its editorial strength, circulation and advertising volume.
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