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The Spectator is a wholly-owned subsidiary of the Telegraph Group, which is owned by Canadian-born publishing magnate Lord Black.
The sale was prompted by the poor health of the outgoing owner Paul Josefowitz.

Dan Colson, vice chairman and chief executive of the Telegraph Group, said: “We are delighted to be associated with Apollo. It has been a top quality magazine brand since 1925 and is a perfect fit with The Spectator. There is a tremendous overlap between the readerships of the two magazines which we will use to Apollo’s advantage.”

Anthony Law, associate publisher and for many years director of advertising at Apollo, told the Gazette last week that “everything is continuing as normal at the moment”.

However, it is expected that a new managing director will be imported from The Spectator in the new year.