Private investors buy PFD agency

Sunday Times editor leads buyout of U.K. co.

By ARCHIE THOMAS

LONDON -- A group of unnamed City investors led by journalist and broadcaster Andrew Neil, former editor of the Sunday Times, HAS acquired U.K. talent and literary agency PFD for £4 million ($7.8 million), it emerged on Wednesday.

PFD, previously known as Peters, Fraser & Dunlop, was acquired by publicly owned sports and entertainment management group CSS Stellar in 2001 for around $12 million.

Neil will become chairman of the agency.