Lord Heseltine, the Conservative peer and former deputy prime minister, clocks up a half century in business today as Haymarket, his magazine publishing empire, turns 50.
As plain Michael Heseltine, the Conservative peer and former deputy prime minister started the Haymarket publishing group in 1957. It is now Britain's largest privately owned magazine publisher.
The business is Britain's largest privately owned magazine publisher. Its roots date back to 1957 and the Oxford student's guide What's What, which sold for a half crown – 2/6d (12½p).
Haymarket's early break came with its 1959 acquisition of Man About Town – later renamed Town – a forerunner to FHM and Loaded. Arguably the first modern consumer magazine for men, it focused on fine wines, good food, women and entertaining company.
Today's lads' mags are widely considered sexist but Town could be politically incorrect even by FHM's standards. The autumn 1958 issue featured an article called ''The perfect woman: How to shut a woman up with a brank, a scold's bridle".
The title was never financially successful and the Haymarket group was hit by the early 1960s credit squeeze.
Lord Heseltine, after serving in the Thatcher and Major governments, returned to Haymarket after the 1997 election. He is said to have called then chairman Lindsay Masters and said: ''You may have noticed that I'm unemployed. I thought I might come back."
Since then the company has expanded rapidly overseas, where it now makes a quarter of its revenues, holding more than 100 licences in 37 territories and in 31 languages.
Its dozens of titles include Campaign, Management Today, Autocar, and Stuff. Including conferences and exhibitions business, Haymarket generated a group turnover of £244m at the last count.
Now 74, Tarzan (as he was once dubbed by a political opponent) wants to double it in size again, helped by his son Rupert Heseltine, 40, the deputy chairman.
Lord Heseltine told a commemorative edition of Campaign this week that Haymarket would not be taken public or sold on his watch. He said: ''What would I do with the money?"
He was also dismissive of commentators who say that there is no future for medium-sized magazine publishers or that print will soon be overwhelmed by the web.
''Wireless didn't destroy the printed word. Television didn't destroy the printed word," he said. ''I don't think the worldwide web will either."
