The new owners of The Spectator magazine are expected to announce a boardroom clearout today that will include Lord Tebbit and the magazine's former owner.
The dismissals mark one of the biggest upheavals at the Telegraph Group, which owns the publication, since the Barclay brothers took over three months ago. As well as the former Tory party chairman, those expected to leave include Algy Cluff, the diamond and oil tycoon, Lord King of Wartnaby, the former chairman of British Airways, and Sir Patrick Sheehy, the former head of BAT. It was Mr Cluff, the chairman of the Spectator, who sold the magazine 18 years ago to its former proprietor Conrad Black, who now faces accusations of accepting millions of pounds without official approval.
Others have been more fortunate. Kimberley Fortier, the magazine publisher, and Boris Johnson, the editor and Tory MP, will remain in place.
Yesterday, Lord Tebbit, who has sat on the board for 10 years, expressed his sadness at his departure. "The Barclays must do as they like," he told The Times. "But we have done a good job in turning the company around. I will be sorry to go."