UK’s Daily Mail Publisher in Talks to Buy The Telegraph for $654-M

The publisher of Britain’s Daily Mail has entered exclusive talks to buy Telegraph Media Group in a deal that would link two news groups that have traditionally supported the right-leaning Conservative Party, Danica Kirka reported for the Associated Press (AP).

The battle over ownership of the Telegraph, a fixture on Britain’s media landscape since 1855, began in 2023 when the Barclay family lost control of the company in a dispute with its lenders. (Photo: Ben Sutherland Wikimedia Commons)

Daily Mail and General Trust plc (DMGT) said on Saturday that the talks were designed to finalize the terms of a £500 million ($654 million) deal to buy the Telegraph from an Abu Dhabi-backed venture known as Redbird IMI.

The proposed transaction comes after concerns about foreign ownership of British news organizations stalled Redbird IMI’s efforts to take control of the Daily Telegraph and its sister Sunday publication two years ago.

Culture Secretary Lisa Nandy said she would review any new acquisition to ensure it protects the public interest and complies with legislation governing “foreign state influence” in media mergers.

DMGT said it expected to complete the transaction “quickly.” Chairman Jonathan Harmsworth said that “under our ownership, the Daily Telegraph will become a global brand, just as the Daily Mail has.”

The battle over ownership of the Telegraph, a fixture on Britain’s media landscape since 1855, began in 2023 when the Barclay family lost control of the company in a dispute with its lenders.