Former government minister Michael Gove is to be the new editor of The Spectator, after the magazine was bought by hedge fund tycoon and GB News-backer Sir Paul Marshall.

He will take on the role at the start of October, according to Freddie Sayers, the magazine's publisher.

In a post on X, formerly Twitter, Mr Sayers, who is also the chief executive of new owner OQS, added Mr Gove was "perfectly suited to the role".

Mr Gove, who stepped down from Parliament at the general election, was a journalist before he became a Conservative MP.

He will start the job after final approval from Acoba, the advisory committee on business appointments which advises former ministers when they take jobs after leaving the government.

Mr Gove replaces Fraser Nelson, who is stepping down "after 15 incredibly successful years", Mr Sayers said.

Mr Nelson will continue to write for The Spectator and will become associate editor.

In an article published on Wednesday, Mr Nelson called Mr Gove "the clear successor" to replace him.

"He’s a first-class journalist who took a detour into politics and not (as so often happens) the other way around," he wrote.

"There's never a good time to leave a job like mine but, after 15 years and a new owner with big ambitions, there is an obvious time."

Mr Nelson has overseen a highly successful period for the magazine, including the growth of its digital product.

His decision to step down follows Andrew Neil's exit as the magazine's chairman earlier this month.

Mr Gove, first elected MP for Surrey Heath in 2005, served in the governments of David Cameron, Theresa May, Boris Johnson and Rishi Sunak.

He announced he was stepping down in May, amid an exodus of Conservative MPs ahead of the 4 July election.

He takes on his new role as editor of the right-leaning magazine as the Conservative party prepares to elect its next leader.

Earlier this month, it was announced that the Spectator had been sold for £100m to Sir Paul, through his Old Queen Street (OQS) media group.

He beat around 20 other bidders to buy the magazine, once edited by former Prime Minister Boris Johnson.

It went back on sale in April after an Abu Dhabi-backed bid to buy it along with the Daily Telegraph and the Sunday Telegraph collapsed.

This came after the government intervened in January. Legislation banning foreign states from owning UK newspapers soon followed.

That deal would have transferred the ownership to the Gulf-backed Redbird IMI consortium.

The Spectator was established in 1828, making it one of the oldest politics and current affairs magazines in the world.

Mr Sayers also announced that the magazine's non-executive Chairman would be Charles Moore, a former Spectator editor.

Mr Sayers said Lord Moore, who sits as a non-affiliated member of the House of Lords, would have "the specific brief of safeguarding editorial independence and the soul of the publication".