Historic Ownership Change

Canadian billionaire Stephen Smith's family holding company, Smith Financial, has agreed to acquire a 26.9% stake in The Economist Group from Lady Lynn Forester de Rothschild and her family for approximately £300 million (about 525 billion won), according to the Financial Times. This marks the first major ownership change in a decade for the 183-year-old publisher.

The transaction is subject to trustee and board approval and represents Smith's first major media investment. Due to The Economist's governance provisions that cap any single shareholder's voting rights at 20%, Smith's actual influence will be more limited than his ownership stake suggests.

The Economist's Current Governance Structure

Following this transaction, Exor, the investment company of Italy's Agnelli family, will maintain its position as the largest shareholder with a 43.4% stake. The Economist recorded revenues of £368.5 million in 2025, demonstrating stable growth.

The Rothschild family has been a major shareholder in The Economist for decades, and this sale is interpreted as part of the family's media portfolio realignment. In a statement, Smith said the investment "reflects full support for The Economist's long tradition of rigorous editorial independence."

New Trends in Premium Media Market

This transaction demonstrates growing interest from new investors in the global premium media market. There is an increasing trend of traditional media companies in the midst of digital transformation attracting new capital to maintain a balance between financial stability and editorial independence.

The Economist is considered a success story of the subscription-based business model, having secured a global elite readership. Smith's investment suggests that the value of premium journalism continues to be highly regarded.