Published 2 hours ago • loading... • Updated 2 hours ago

Daily Mail Owner Agrees to Buy Daily Telegraph for £500m

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.

Insights by Ground AI

12 Articles

The Independent

Lean Left

Daily Mail owner strikes £500 million deal to buy The Telegraph

DMGT has now entered exclusive talks to purchase the historic broadsheet

2 hours ago·London, United Kingdom

Read Full Article

Bloomberg

Lean Left

Daily Mail Owner Reaches £500M Deal for Telegraph, FT Says

Daily Mail & General Trust Plc has reached a £500 million ($655 million) agreement to acquire The Telegraph, days after the US private equity firm RedBird Capital Partners withdrew its offer to buy the right-leaning media organization, the Financial Times reported on Saturday, citing people it didn’t identify.

2 hours ago·United States

Read Full Article