British newspaper The Telegraph is set to be acquired by U.S. investment firm RedBird Capital Partners in a deal worth £500 million ($670 million), both parties confirmed Friday.
RedBird has reached an “in-principle agreement” to buy Telegraph Media Group (TMG), which includes the 170-year-old paper’s print and digital platforms. The acquisition ends a two-year sale process, which previously faced scrutiny from the UK government due to concerns over press freedom linked to RedBird’s earlier partnership with Abu Dhabi-backed RedBird IMI.
The new agreement grants RedBird full control of TMG and outlines plans for international growth. The firm intends to invest in digital operations, subscriptions, and journalism while maintaining The Telegraph’s editorial independence. Discussions are also underway with UK-based media investors to join as minority stakeholders.
Founded in 1855, The Telegraph has long been a prominent voice in British conservative media.
AFP
