The Spectator composite image. Picture: OQS Media The 15-month sale process of The Spectator resulted in total costs to the weekly news magazine of £11.4m. The Spectator was bought by GB News investor and hedge fund manager Sir Paul Marshall via his company Old Queen Street Ventures Ltd in September 2024. In the 2023 financial year, the sale process cost The Spectator £6.4m. New accounts on Companies House now show a further £5m cost in the year to 31 December 2024. These costs included receivers, independent directors, bankers, lawyers, consultants and employee retention payments. They were paid by the prior owners before the OQS acquisition completed. The sale meant The Spectator fell into the red following a pre-tax profit of £2.6m in 2022, its last full year of Barclay family ownership. In 2024, The Spectator reported a pre-tax loss of £6.6m, slightly improved from a loss of £6.9m in 2023. EBITDA (earnings before interest, taxation, depreciation and amortisation) excluding exceptional items was a small loss of £0.2m following a profit of £1.2m in 2023. Turnover …