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Economist Group

The Economist Newspaper Limited
The Economist Group
Private limited company
Founded 1843 (London)
Founder James Wilson
Headquarters 25 St James's Street, London, United Kingdom
Area served
Worldwide
Key people
Chris Stibbs
(Group Chief Executive)
Susan Clark
(CMO)
Products The Economist Magazines, newspapers
Services Market Intelligence, Conferences
Revenue £361.8 million (2012)[1]
£67.3 million (2012)[1]
£47.23 million (2012)[1]
Total assets £66.16 million (at 31 March 2012)[1]
Total equity (£4.57 million) (at 31 March 2012)[1]
Owner Cadbury, Rothschild, Schroder and Agnelli families
Number of employees
1,414 (2012 average)[1]
Divisions Economist Intelligence Unit, CQ Roll Call, EuroFinance
Website http://www.economistgroup.com/
The Economist Building, The Economist Group's headquarters in London

The Economist Newspaper Limited, trading as The Economist Group, is a British multinational media company headquartered in London and best known as publisher of The Economist. The Economist Group specializes in international business and world affairs information. Its principal activities are magazines, newspapers, conferences and market intelligence.

Contents

  • Ownership 1
  • History 2
  • Operations 3
  • Corporate affairs 4
    • Governance 4.1
    • Financial data 4.2
  • References 5
  • External links 6

Ownership

The Economist Group is owned by the Cadbury, Rothschild, Schroder, Agnelli and other family interests as well as a number of staff and former staff shareholders.

Pearson PLC held a 50% shareholding via The Financial Times Limited until August 2015. At this time Pearson sold their share in the Economist. The Agnelli family's Exor paid £287m to raise their stake from 4.7% to 43.4%, while the Economist paid £182m for the balance of 5.04m shares which will be distributed to current shareholders.[2]

History

The origins of The Economist Group date back to the foundation of The Economist: A Political, Commercial, Agricultural, & Free-Trade Journal by James Wilson in 1843.[3]

In 1946, the Economist Intelligence Unit was provide business intelligence to both The Economist magazine and external clients.[3] In the same year, the Economist bookshop was established as a 50:50 joint venture with the London School of Economics.[3]

Economist Conferences was established as a division of Economist Intelligence Unit in 1956 to offer government roundtables.[3]

In 1995 The Economist Group acquired the Journal of Commerce, a US-based provider of information for the shipping and transportation industries.[3] In the same year the Group launched European Voice, the first pan-European Union weekly newspaper.[3]

In July 2004, The Economist Group launched an upmarket lifestyle magazine called Intelligent Life, an annual publication. This magazine was redesigned as a quarterly in September 2007, and became a bi-monthly publication in August 2011.

Launched in 2010, the Ideas People Channel is a vertical online advertising network of around 50 sites defined by the mindset of the audience. The sites recruited for the network were identified by the readers of The Economist as their favourite online destinations for topics on business, globalisation, innovation and culture. The channel competes in the lower-cost, high-volume network advertising market, a category not previously served by The Economist online.[4] Also recently launched is Economist Education, providing e-learning courses.

In March 2012, The Economist Group acquired the London-based marketing communications agency TVC Group for an undisclosed sum.[5]

In April 2012, the Economist Intelligence Unit expanded in Asia with the acquisition of Clearstate, a market intelligence firm specializing in customized strategic advisory and primary research solutions in the healthcare and life sciences domains.[3]

Operations

The Economist Group is headquartered in London, United Kingdom and has offices worldwide, including in Brussels, Belgium, Frankfurt, Germany, Geneva, Switzerland, Paris, France, Dubai, United Arab Emirates, Johannesburg, South Africa, Hong Kong, mainland China, Singapore, Tokyo, Japan, India, New York and Washington, DC in the United States.

The Economist Group's principal activities are magazines, newspapers, conferences and market intelligence. Publications and services delivered under The Economist brand include The Economist magazine, The Economist online, Economist Intelligence Unit, Economist Conferences, Economist Corporate Network, The World In series and a bi-monthly lifestyle magazine, Intelligent Life. The Group’s other brands include CQ Roll Call (aimed at decision-makers on Capitol Hill), EuroFinance, a cash and treasury management event business, and a digital media agency, TVC. European Voice (Brussels), formerly a sister publication of CQ Roll Call, was sold to the French company Selectcom in 2013.

Corporate affairs

Governance

The current members of the board of directors of The Economist Group are: Rupert Pennant-Rea (Chairman), Philip Hoffman, Zanny Minton Beddoes (editor-in-chief of the Economist magazine), John Ridding, Eric Schmidt (of Alphabet, parent company of Google), Sir David Bell, John Elkann, John Micklethwait, Sir Simon Robertson, Lynn Forester de Rothschild, Chris Stibbs and Luke Swanson.[6] Former board members include: Andrew Rashbass, Rona Fairhead, and Philip Mengel.[7] The current trustees of the Group are: Baroness Bottomley of Nettlestone, Lord O'Donnell, Tim Clark and Bryan Sanderson.[8]

Financial data

2007 2008 2009 2010 2011
Group turnover 248m 266m 313m 320m 347m
Group operating profit 36m 44m 56m 58m 63m
[1]

References

  1. ^ a b c d e f g "Annual report 2012" (PDF). The Economist Group. Retrieved 26 October 2012. 
  2. ^ West, Karl (2015-08-15). "The Economist becomes a family affair". The Guardian (London: The Guardian). Retrieved 2015-08-15. Pearson, the education and publishing giant that has held a non-controlling 50% stake since 1928, is selling the holding for £469m. The deal will make Italy’s Agnelli family, founders of the Fiat car empire, the largest shareholder 
  3. ^ a b c d e f g "Our history". The Economist Group. Retrieved 15 December 2012. 
  4. ^ Moses, Lucia "Economist Launches Online Ad Net", Adweek, 27 October 2010. Retrieved 12 July 2010.
  5. ^ "The Economist Group acquires TVC Group in move to create content". PR Week. 14 March 2012. Retrieved 15 December 2012. 
  6. ^ "Directors". The Economist Group. Retrieved 18 February 2015. 
  7. ^ "Directors". The Economist Group. Retrieved 15 December 2012. 
  8. ^ "Trustees". The Economist Group. Retrieved 15 April 2013. 

External links

  • The Economist Group
  • Economist Group companies grouped at OpenCorporates
2015 Ownership change
  • http://www.economist.com/news/leaders/21660919-only-second-time-our-history-ownership-economist-changes-new-chapter
  • http://www.economistgroup.com/our_news/press_releases/2015/the_economist_group_strengthens_independence_through_share_buy-back_from_pearson.html
  • http://www.bloomberg.com/news/articles/2015-08-12/pearson-to-sell-economist-stake-for-731-million-to-exit-news
  • http://qz.com/477743/the-economist-is-being-sold-to-rich-italian-investors-and-to-the-economist-itself/
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