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The magazine was founded in 1956 by Tom Margerison, Max Raison and Nicholas Harrison as "The New Scientist", with Issue 1 on 22 November 1956, priced one shilling (twentieth of a pound, pre-decimalisation in UK; £ today). An article in the magazine's 10th anniversary issues provides anecdotes on the founding of the magazine. The British monthly science magazine "Science Journal", published from 1965 until 1971, was merged with "New Scientist" to form "New Scientist and Science Journal". In 1970, the Reed Group, which went on to become Reed Elsevier, acquired "New Scientist" when it merged with IPC Magazines. Reed retained the magazine when it sold most of its consumer titles in a management buyout to what is now TI Media. In April 2017 "New Scientist" changed hands when RELX Group, formerly known as Reed Elsevier, sold the magazine to Kingston Acquisitions, a group set up by Sir Bernard Gray, Louise Rogers and Matthew O’Sullivan to acquire "New Scientist". Kingston Acquisitions then renamed itself New Scientist Ltd. The "New Scientist" was subsequently sold to the Daily Mail and General Trust (DMGT) for £70 million in March 2021; DMGT guaranteed the magazine's editorial independence, and ruled out staff cuts and the sharing of editorial content.