A significant ownership shift has taken place at The Economist Group after Canadian billionaire Stephen Smith agreed to acquire a 26.9 per cent stake from Lynn Forester, Lady de Rothschild, marking the first major change in the publisher’s shareholder structure in more than a decade.

Smith, 74, is purchasing the stake through his family investment vehicle, Smith Financial, in a deal that underscores continued global investor confidence in one of the world’s most influential media brands. While financial terms have not been disclosed, the transaction represents a notable reshaping of the group’s ownership, with the Rothschild family exiting a long-held position.

The move follows the last major ownership change in 2015, when Pearson sold the majority of its 50 per cent holding to the Agnelli family’s investment company, Exor, which today remains the largest shareholder with a 43.4 per cent stake. Smith’s investment now positions him as one of the most significant minority shareholders alongside Exor, reinforcing a shareholder base that blends long-term strategic investors with a commitment to editorial independence.

Founded in 1843, The Economist Group has built its reputation on championing free trade, liberal economics and independent journalism. That editorial positioning has historically shaped its ownership model, with shareholders often selected not only for financial backing but for alignment with the publication’s values and governance principles.

A spokesperson for Smith confirmed that the investment reflects his “full support for The Economist’s longstanding tradition of rigorous editorial independence”, a key consideration in any change of ownership at the publication. Maintaining that independence is central to the group’s structure, with safeguards embedded in its governance to ensure editorial decisions remain insulated from shareholder influence.

Lady de Rothschild’s decision to sell is understood to be part of a broader reorganisation of her family’s investment portfolio. A prominent figure in international finance and philanthropy, she co-founded telecoms business FirstMark Communications and has held senior roles including a position on the board of Estée Lauder. Alongside her late husband, Sir Evelyn de Rothschild, she also built EL Rothschild, a family office with interests spanning private equity, public markets and real estate.

Smith, meanwhile, brings deep experience in financial services and investment. He co-founded First National Financial Corporation in 1988, building it into one of Canada’s largest non-bank mortgage lenders, and stepped down from its board in 2025. His wider portfolio includes chairmanship roles at Peloton Capital Management, proxy advisory firm Glass, Lewis & Co, and Fairstone Bank of Canada, a major consumer lending institution.

Beyond business, Smith is also known for his philanthropic activity, particularly in education, heritage and the arts, areas that align with The Economist Group’s broader intellectual and cultural influence.

The Economist Group confirmed the agreement, noting that completion remains subject to standard closing conditions. The company did not comment on valuation but emphasised continuity in its strategic direction and governance framework.

The transaction comes at a time when premium media brands continue to attract high-net-worth investors seeking exposure to trusted global content platforms with diversified revenue streams, including subscriptions, events and specialist research services.

For The Economist, the arrival of a new cornerstone investor signals stability rather than disruption. With its ownership model designed to prioritise long-term stewardship over short-term returns, the addition of Smith Financial is expected to reinforce the group’s financial resilience while preserving the editorial principles that have defined it for more than 180 years.

Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

Taylor Swift made a rare public appearance over the weekend, attending Jay-Z and Beyoncé’s exclusive Oscars after-party in Los Angeles on March 15, where she and fiancé Travis Kelce mingled with Hollywood’s elite following the 98th Academy Awards. The low-key outing marks one of the couple’s few joint red-carpet-adjacent events since Swift’s 2025 album *The Life of a Showgirl* dominated charts and propelled her net worth past $2 billion, according to recent estimates.

Partygoers, including filmmaker Natalie Mustiata, confirmed Swift’s presence at the coveted Gold Party, hosted annually by the music power couple. Mustiata told The New Yorker in an interview published March 16 that she encountered the pop superstar, describing the atmosphere as celebratory and star-studded. Swift, dressed elegantly for the post-Oscars festivities hosted by Conan O’Brien earlier that evening, kept interactions casual amid the glitzy crowd. Kelce, fresh off his NFL season with the Kansas City Chiefs, joined her for the night out, with sources telling Just Jared the pair enjoyed a relaxed evening connecting with friends in the industry.

The sighting comes amid heightened speculation about the couple’s personal milestones. Multiple outlets reported in early March that Swift and Kelce have set June 13, 2026, as their wedding date, with venues in Rhode Island rumored as potential sites. Fan theories intensified after Taylor Nation posted a chalkboard image promoting a *The Life of a Showgirl* listening party, where some deciphered faint erased text possibly reading “June 13” alongside hints like “KC” and “NY.” While unconfirmed, the date aligns with podcast tips and insider whispers, fueling excitement among Swifties.

Swift’s financial dominance remains a central storyline. Her 2025 album *The Life of a Showgirl* sold 1.6 million vinyl units in the U.S., playing a pivotal role in pushing annual vinyl revenue past $1 billion for the first time since 1983, per industry reports. The orange-themed era, produced in part by Max Martin, featured hits like “Elizabeth Taylor,” which peaked at No. 3 on the Billboard Hot 100 upon its October 2025 release. A limited-edition “Elizabeth Taylor” 7-inch vinyl on Cry My Eyes Violet Glitter — pressed in a blue-and-purple galactic variant — was announced for Record Store Day 2026, with details rolling out to indie stores starting April 18. The release adds to Swift’s streak of high-profile physical media drops, capitalizing on the vinyl resurgence she helped drive.

No new studio album is expected in 2026, insiders say, as Swift focuses on promoting *The Life of a Showgirl* through singles, videos and an “era of singles” approach reminiscent of *1989*. Fans anticipate celebrations for the 20th anniversary of her 2006 self-titled debut, potentially including a Taylor’s Version re-recording with vault tracks. Speculation about vault releases from *Reputation*’s 10th anniversary in 2027 also swirls, though nothing is confirmed.

Tour rumors persist, with sources indicating “ideas percolating” for a potential *Life of a Showgirl* tour or extension of The Eras Tour concept. While Swift has not announced plans, some predict announcements later in 2026, possibly targeting 2027 or 2028 starts. Fanon wikis and Reddit threads discuss hypothetical Eras Tour 2.0 iterations incorporating new material, but official word remains absent.

Other March developments include a call from artist EJAE for Swift to collaborate on the soundtrack for the *KPop Demon Hunters* sequel, shared via Variety on March 15. Swift’s influence extends beyond music, with her family historically voicing concerns over political figures like former President Donald Trump — a point resurfaced amid Kelce’s recent golf chat with Trump’s granddaughter Kai at a TGL event.

A brief health-related concern earlier in March prompted fan worry after a reported update about successful surgery and recovery, though details stayed private and support poured in from Swifties. The star has since resumed public visibility, underscoring her resilience amid a demanding schedule.

Swift’s cultural footprint shows no signs of fading. With *The Life of a Showgirl* still charting globally and her catalog driving streaming and sales, she enters spring 2026 as one of entertainment’s most powerful figures. The Oscars after-party appearance, wedding anticipation and vinyl excitement keep her in headlines, blending personal joy with professional triumphs.

As June approaches, all eyes remain on the couple for wedding confirmations, while music fans watch for any hints of new drops or live returns. Swift’s ability to balance mega-stardom with private milestones continues to captivate, ensuring her story dominates conversations well into the year.

Global K-pop phenomenon BTS is on the cusp of one of the most anticipated returns in music history, with their fifth studio album *Arirang* set for release on March 20, 2026, followed by a landmark live performance streamed worldwide on March 21. The septet — RM, Jin, Suga, J-Hope, Jimin, V and Jungkook — ends a nearly four-year group hiatus triggered by mandatory military service, marking their first full-album drop since 2020’s *Be* and their first collective activities since reuniting post-discharge.

BigHit Music (HYBE) confirmed the March 20 comeback date in early January, with the announcement igniting a frenzy among ARMY, the band’s devoted fanbase. “March 20th comeback confirmed,” the label posted on X, translating the Korean message that sent pre-order demands soaring and resale markets for merchandise surging. The album, titled *Arirang* after Korea’s traditional folk song symbolizing resilience and longing, reflects the members’ journey through service, solo ventures and rediscovery as a unit.

Lead single “Swim” teases have already surfaced, with the first music video snippet showing nautical themes and high-energy choreography. Fans on social media praised the visual as a nod to BTS’s signature blend of introspection and dynamism. Pre-orders opened in mid-January, with physical editions featuring member-specific concepts and photobooks selling out rapidly across platforms.

The comeback culminates in *BTS THE COMEBACK LIVE | ARIRANG*, a special outdoor concert at Seoul’s historic Gwanghwamun Square on March 21 at 8 p.m. KST. Broadcast live exclusively on Netflix for all subscribers, the event celebrates the album’s release and BTS’s return to the stage after three years and nine months. Countdown events have unfolded daily in Seoul, with D-5 to D-4 activations drawing crowds and generating viral footage of fan light-stick oceans and choreo practices.

A Netflix documentary, *BTS: THE RETURN*, premieres March 27, offering behind-the-scenes access to the recording process in Los Angeles and Seoul. Directed by Bao Nguyen and produced by HYBE and This Machine, the film captures moments of doubt, laughter and creative breakthroughs as the members reconvened post-service. Trailer footage shows RM leading discussions, Jungkook in vocal booths and Jin cracking jokes, underscoring their unbreakable bond.

All seven members completed mandatory military service by mid-2025. Jin discharged first in June 2024, followed by J-Hope in October 2024. RM and V finished in June 2025, with Jimin and Jungkook shortly after. Suga, serving alternative social work duty due to health considerations, wrapped up last in June 2025. No public discharge events occurred for most to avoid overcrowding, but private reunions fueled speculation about group plans.

The hiatus allowed prolific solo output: RM’s introspective albums, Suga’s Agust D tours, J-Hope’s *Jack in the Box*, Jimin’s *Face* and *Muse*, V’s *Layover*, Jungkook’s *Golden* and Jin’s upbeat tracks. These projects kept BTS culturally dominant, with members topping charts and earning Grammy nods individually. The group reconvened in summer 2025 for recording, with Jimin confirming completion in November.

A massive world tour, *BTS WORLD TOUR ARIRANG*, launches April 9, 2026, in Goyang, South Korea, spanning Asia, North America, Europe, Latin America and Australia through March 2027. Initial dates sold out instantly, with additional shows expected. The 82-date itinerary positions BTS to shatter attendance records set by their pre-hiatus *Love Yourself* and *Map of the Soul* tours.

Security concerns loom large for the Seoul concert, with authorities raising terror alerts to “caution” in Jongno and Jung-gu districts. Enhanced measures include crowd control and surveillance around Gwanghwamun Square, a site of historic protests and cultural events. Officials urge fans to follow guidelines for safe attendance.

Merchandise demand has spiked, with official light sticks reselling at premiums ahead of the live event. Original versions hover around 50,000 won, but scarcity drives secondary prices higher. ARMY worldwide express eagerness, with hashtags like #BTS_ARIRANG and #BTSisBack trending globally.

Industry observers hail the comeback as a pivotal moment for K-pop’s global dominance. BTS’s influence extends beyond music, boosting tourism, language learning and Korean culture exports. The return coincides with HYBE’s expansion, positioning the group as central to the conglomerate’s strategy.

In a rare joint interview with GQ, RM emphasized reunion joy: “The most important thing is just that we are here back together again. We’re going to see the fans all over the world.” Members described *Arirang* as a “culmination” of their evolution, blending signature hip-hop roots, pop anthems and mature reflections on identity and perseverance.

As March 20 approaches, anticipation builds to fever pitch. With the album, live stream, documentary and tour, 2026 marks BTS’s bold new chapter. ARMY’s purple light sticks will illuminate screens and stadiums, signaling the kings’ triumphant return.

The comeback not only reunites one of music’s most influential acts but reaffirms BTS’s commitment to authenticity amid unprecedented fame. From military barracks to global stages, their story inspires millions, proving resilience and connection transcend borders and time.

Calamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco.  For more information, please visit www.calamos.com.

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