Private Eye is a British fortnightly satirical and current affairs news magazine, founded in 1961. It is published in London and has been edited by Ian Hislop since 1986. The publication is widely recognised for its prominent criticism and lampooning of public figures. It is also known for its in-depth investigative journalism into under-reported scandals and cover-ups.Private Eye is Britain's best-selling current affairs magazine, and such is its long-term popularity and impact that many of its recurring in-jokes have entered popular culture in the United Kingdom. The magazine bucks the trend of declining circulation for print media, having recorded its highest-ever circulation in the second half of 2016. It is privately owned and highly profitable.With a "deeply conservative resistance to change", it has resisted moves to online content or glossy format: it has always been printed on cheap paper and resembles, in format and content, a comic as much as a serious magazine. Both its satire and investigative journalism have led to numerous libel suits. It is well known for the use of pseudonyms by its contributors, many of whom have been prominent in public life – this even extends to a fictional proprietor, Lord Gnome.