U.S. Firm RedBird Agrees to Buy UK’s Telegraph Broadsheet

A consortium led by U.S. investment firm RedBird Capital Partners has agreed to purchase the publisher of Britain’s 170-year-old Daily Telegraph newspaper for about 500 million pounds ($674 million), the two parties announced, the Associated Press (AP) reported.

A consortium led by U.S. investment firm RedBird Capital Partners has agreed to purchase the publisher of Britain’s 170-year-old Daily Telegraph newspaper for about 500 million pounds ($674 million). Photo: Tom Parnell Wikimedia Commons 

RedBird said it had reached an agreement in principle to become the controlling owner of Telegraph Media Group, concluding a lengthy takeover saga for the conservative-leaning newspaper.

Gerry Cardinale, founder and managing partner of RedBird, said the sale “marks the start of a new era for The Telegraph as we look to grow the brand in the UK and internationally, invest in its technology, and expand its subscriber base.”

The Telegraph group, previously owned by Britain’s Barclay family, was put up for sale two years ago to help pay off the family’s debts.

It publishes the daily and Sunday Telegraph newspapers, along with the weekly news magazine The Spectator—all closely associated with Britain’s Conservative Party.