Canadian billionaire Smith acquires 26.9% stake in The Economist magazine.

According to a statement from the relevant company, Canadian billionaire Stephen Smith and his family holding company have reached an agreement to acquire a minority stake in the publisher of The Economist magazine. Representatives from both companies stated in an email declaration that Smith and his Smith Financial Corporation have reached an agreement with current shareholders Lynn Forester de Rothschild, her family, and family foundation to acquire a 26.9% stake in The Economist Group. A spokesperson for Smith said, "This investment reflects Mr. Smith's full support for The Economist's long-standing tradition of rigorous editorial independence. The Economist's strategy and operations will continue to remain unaffected."