UK: Elder Statesman hangs on.

UK: Elder Statesman hangs on. - Prime ministers may fall, corporations collapse and newspapers close, but by weight of sheer devotion the left-wing New Statesmen and Society battles on.

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Last Updated: 31 Aug 2010

Prime ministers may fall, corporations collapse and newspapers close, but by weight of sheer devotion the left-wing New Statesmen and Society battles on.

After a year of near-disasters chief executive Pat Coyne has a new plan. In early 1991 a Business Expansion Scheme will be launched with the aim of raising £500,000. An option is to bring in a single big investor to supplement this, or even to sell off control.

Two pairs of eyes pointed in that direction are those of Asian businessman and would-be MP Praful Patel and ex-Mirror man and magazine publisher Mark Allen. Patel is inspired by the elusive vision of a Europe-wide, left-wing journal as much as Pat Coyne is. Problem is, this is big money stuff. And, if anything, money is more than ever the monopoly of the right.

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