The owner of the Daily Mail reaches a deal to acquire the Telegraph newspaper

The owner of the Daily Mail tabloid, DMGT, has signed an agreement with the Redbird IMI group to acquire the British daily newspaper,  The Telegraph,  for £500 million, the publisher announced in a statement on Saturday. This acquisition, if completed, could create one of the largest right-leaning media groups in the United Kingdom.

DMGT has signed an agreement with Redbird IMI to acquire the Telegraph Media Group for £500 million (€568.8 million), DMGT announced. The parties expect to finalize the terms of the transaction quickly , the group added. This acquisition would provide the confidence that employees of the Telegraph, a newspaper founded 170 years ago, need , DMGT asserted. It would ensure the newspaper’s continued success on the global stage .

The Minister of Culture will “examine any new buyer”

His announcement comes eight days after the withdrawal of the offer by the American fund RedBird to take control of the Telegraph, which had once again plunged the conservative daily into uncertainty. Owned since 2004 by the  extremely wealthy Barclay family , the newspaper had been put up for sale at the end of 2023 by Lloyds bank to pay off substantial debts.

Culture Secretary Lisa Nandy ” takes note ” of the announcement of the agreement, a ministry spokesperson said on Saturday. ” She will consider any new purchaser of the Telegraph in light of the public interest and legislation on media mergers involving the influence of foreign states ,” the spokesperson added.

LE FIGARO