London – A consortium led by the US investment firm Redbird Capital Partners agreed to buy the 170 -year -old Britain Daily Telegraph newspaper for approximately 500 million pounds ($ 674 million), the two parts said on Friday.
Redbird said that he has reached an agreement in principle to become a driver’s owner of Telegraph Media Group, ending a long acquisition saga For the conservative newspaper.
Gerry Cardinale, founder and managing partner of Redbird, said the sale marks the beginning of a new era for Telegraph while we seek to grow the brand in the United Kingdom and internationally, invest in its technology and expand its subscriber base. “
The group, previously owned by the Barclay family of Great Britain, was put on sale two years ago to help pay the family debts. He published the newspapers of Daily and Sunday Telegraph and Weekly Newsmagazine The Spectator, who are closely allied to the Conservative Party of Great Britain.
In 2023 there was a Offer to buy publications From Redbird IMI, a consortium backed by Redbird Capital Partners and Sheikh Manso Bin Zayed al Nahyan, member of the Royal Family of Abu Dhabi and vice president of the United Arab Emirates.
But the consortium retired last year after Strong Opposition of the United Kingdom Governmentthat launched legislation to block the foreign state property of the British press.
The spectator was Sold separately In September to the British investor of Fund of Coverage Paul Marshall.
The executive director of Telegraph Media Group, Anna Jones, said: “Redbird Capital Partners has exciting growth plans that are based on our success, and will unlock our maximum potential in the entire amplitude of our business.”
