US EditionDaily Mail Owner Agrees to Buy Daily Telegraph for £500m
DMGT aims to invest substantially in Telegraph Media Group to accelerate its international growth, focusing on the US market after a prior £500 million sale attempt collapsed.
- Saturday's announcement said DMGT entered exclusive negotiations to buy the Telegraph titles for 500m, less than two weeks after a sale collapse.
- The RedBird-led sale collapsed after newsroom opposition over reported links between Telegraph chairman John Thornton and Chinese state actors, while an IMI bid was blocked due to foreign ownership law changes.
- Jonathan Harmsworth, DMGT chairman, said `I have long admired the Daily Telegraph. My family and I have an enduring love of newspapers and for the journalists who make them` and DMGT said it would invest substantially in Telegraph Media Group to accelerate expansion in the USA.
- Regulatory scrutiny from the competition regulator and ministerial review is expected to follow, with the exclusivity period to finalise terms and prepare regulatory submissions, DMGT said.
- The tie-up would create one of Britain’s most powerful right-leaning media groups and position the Telegraph for accelerated US expansion alongside Metro, The i Paper and New Scientist in DMGT's broader media stable.
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The conglomerate DMGT, owner of the Daily Mail, announced yesterday an agreement for £500 million (US$650 million) to buy the rival newspaper The Daily Telegraph. The parties hope to “quickly” finalize the terms of the transaction, the group added. The acquisition would create one of the largest right-wing media groups in the UK. The agreement occurs one week after the U.S. private investment firm RedBird Capital Partners withdrew its offer for …
Daily Mail Owner Strikes Over $650 Million Deal to Buy The Telegraph
Daily Mail owner Daily Mail and and General Trust (DMGT) just struck an over $650 million deal to buy its rival U.K.-based newspaper, The Daily Telegraph, also known just as The Telegraph, as well as The Sunday Telegraph. Per BBC, a spokesperson said the $655 million agreement is awaiting a sign off from Culture Secretary Lisa Nandy, who will “review any new buyer acquiring the Telegraph in line with the public interest and foreign state influen…
DMGT acquires Telegraph for £500M: a major media consolidation
In a major shake-up of the British media landscape, Daily Mail & General Trust (DMGT) has struck a £500 million deal to acquire the ‘Telegraph Media Group’, the parent company behind ‘The Daily Telegraph’ and ‘Sunday Telegraph’. DMGT has entered a period of exclusive negotiations with RedBird IMI, laying the groundwork for the deal to be finalised. Lord Rothermere, chairman of DMGT… Source
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