The publisher of Britain’s Daily Mail, Daily Mail and General Trust plc (DMGT), has initiated exclusive negotiations to acquire Telegraph Media Group in a landmark deal valued at approximately £500 million ($654 million). This potential acquisition would unite two prominent British news organizations, both historically aligned with the right-leaning Conservative Party. The talks aim to finalize the terms of the purchase from Redbird IMI, an Abu Dhabi-backed venture, which had previously sought to acquire the Telegraph but faced scrutiny over foreign ownership concerns. The proposed transaction has reignited debates about foreign influence in British media, prompting Culture Secretary Lisa Nandy to pledge a thorough review to safeguard public interest and compliance with media merger legislation. DMGT Chairman Jonathan Harmsworth, also known as Lord Rothermere, expressed confidence in the deal, envisioning the Daily Telegraph as a global brand akin to the Daily Mail. The ownership battle for the Telegraph, a cornerstone of British media since 1855, began in 2023 when the Barclay family relinquished control amid disputes with lenders. In November 2023, RedBird Capital and Abu Dhabi’s International Media Investments had agreed to acquire the Telegraph to settle the Barclays’ debts, sparking parliamentary debates about foreign state influence in national media. The previous Conservative government, led by Prime Minister Rishi Sunak, swiftly announced plans to review the deal, emphasizing the importance of preserving editorial independence and freedom of expression in British newspapers.
Britain’s Daily Mail publisher enters exclusive talks to buy Telegraph Media Group for $654 million
