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German media group Axel Springer will buy the owner of Britain's Daily Telegraph for $766 million
Axel Springer outbid Daily Mail to acquire Telegraph Media Group for £575 million and plans to invest in expanding its influence, including growth into the U.S. market.
- Axel Springer has agreed to buy the Telegraph for 575 million, ending a rival bid by Daily Mail owner, according to reports.
- The sale traces back three years, when Lloyds Banking Group seized control amid Barclay family debts, and last month UK ministers dropped legal restrictions enabling Daily Mail and General Trust to take ownership.
- The Financial Times reported last month that Axel Springer entered the race as part of a consortium led by Dovid Efune, then shifted to negotiating a standalone deal with RedBird IMI after submitting a stronger bid.
- Regulators will scrutinise the deal, with Ofcom and the Competition and Markets Authority involved, while Axel Springer said it will invest to expand the group's centre-right reach and U.S. market presence.
- The move will reverberate through Westminster as the Telegraph could soon enter German ownership for the first time, while DMGT's rival bid was funded by a NatWest loan and the sale relieves RedBird IMI after months of trying to sell.
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When Matias Döpfner, the executive director of the German media giant Axel Springer, attempted more than 20 years ago to acquire the legendary head of the United Kingdom The Daily Telegraph, he was defeated by the multimillion-dollar offer of the Barclay brothers, two adventurous twins and billionaires, with hotels, casinos and beer factories, who took over the reins of a key journalistic institution to understand the turbulent decade of Brexit.
·Spain
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The purchase of the British media company is the second largest investment of the German media company since its foundation in 1946
·Brazil
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German media group Axel Springer announced on Friday that it would buy the British newspaper The Telegraph.
·Estonia
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Coverage Details
Total News Sources100
Leaning Left20Leaning Right19Center25Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 31%
C 39%
R 30%
Factuality
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