“One of ARC’s backers is the hedge-fund manager Sir Paul Marshall, who in less than a decade has built a media-influence machine to rival that of Rupert Murdoch, but with far less fuss and far less resistance. Marshall controls a magazine, is a lead investor in a cable-news channel, and might soon have a newspaper. But his empire is torn between two impulses—and so is conservatism as a whole, on both sides of the Atlantic. Like some in the Republican Party, the Marshall Empire—and the ARC—wants to be associated with conscientious capitalism and living a moral life. Yet the quickest route to getting attention on the right is through complaints, cheap jokes, and conspiracism.”