Nick Cavanagh was a newspaper tycoon and owner of the Clarion Group, which bought up Bob Statham's 60% majority share of the Weatherfield Recorder for £30,000 in February 1988. Cavanagh also offered £25,000 for Ken Barlow's minority share but was turned down. Once the Recorder was moved into Neptune House, home of the Clarion Group, Nick left the day-to-day running the paper to Ken and Fiona. He occasionally called on Ken to share his latest idea - such as a new design for the Clarion Group logo, and to inform him that he was getting a company car.