US EditionGerman media group Axel Springer will buy the owner of Britain's Daily Telegraph for $766 million
Axel Springer outbid Daily Mail owner to acquire Telegraph Media Group for £575 million, ending a three-year sales saga driven by the Barclay family’s debts and regulatory scrutiny.
- 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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116 Articles
In the famous satirical series of the BBC of the 1980s, Yes, Prime Minister (a species of British Poland), it became very popular a sarcastic and accurate characterization of who were then the readers of the English press.Continue reading...
The Fall of the House of Barclay
Twin towers of industry: Sir David Barclay and Sir Frederick Barclay receiving their knighthoods at Buckingham Palace in 2000. How did the former owners of the Ritz and The Telegraph go from billionaires to bankrupts? By Joseph Bullmore The $766 million sale of the storied British newspaper The Telegraph to the European media giant Axel Springer on Friday felt like the final nail in the coffin for the empire of the once mighty Barclay brothers. …
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.
The purchase of the British media company is the second largest investment of the German media company since its foundation in 1946
The operation of the German group owner of Bild and Politico. To sell is Redbird, the node of the authorization of the British government
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