A former Ministry of Defence mandarin is trying to buy the magazines Marie Claire, Wallpaper and NME for as much as £150m.
Sir Bernard Gray, who was chief of defence materiel, is in talks to acquire the titles, which have been put up for sale by America’s Time Inc. The former journalist and businessman is working with buyout firm Epiris on the bid, according to City sources. Gray, 57, already owns the New Scientist, which he bought from publishing giant RELX. It is thought that he wants to merge the magazine with Time’s British titles.