Lord Heseltine has taken full control of Haymarket, the magazine publisher he co-founded 50 years ago, according to the Financial Times.
The paper says the former Conservative politician, who is 81, made a final cash payment of £10m in December, having gradually acquired his co-founders' shares over the past decade.
According to the FT, accounts to be filed at Companies House this week will show a pretax loss of £7.6m in the 18 months to June 2013 – and Heseltine is "betting on a recovery in the fortunes" of the group.
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