Latest news with #AnnaJones
Yahoo
23-05-2025
- Business
- Yahoo
RedBird Capital Acquires Telegraph Media Group for $675 Million
RedBird Capital Partners has set an in-principle agreement to acquire Telegraph Media Group for $675.7 million (£500m), the American investment management firm announced on Friday. RedBird will now become the sole owner of the The Telegraph as it looks to take the British daily newspaper international. 'The Telegraph has made enormous progress in recent years since the launch of its digital subscriptions strategy, thanks to the hard work of its brilliant staff. But there is much more that can be achieved,' The Daily Telegraph editor Chris Evans said in a statement. 'With the right plan and the right investment by ambitious new owners, this venerable title can look forward to an era of unprecedented success.' 'This transaction marks the start of a new era for The Telegraph as we look to grow the brand in the U.K. and internationally, invest in its technology and expand its subscriber base. We believe that the U.K. is a great place to invest, and this acquisition is an important part of RedBird's growing portfolio of media and entertainment companies in the U.K.,' RedBird founder and managing partner Gerry Cardinale added. 'Having now spent time with Chris Evans, Anna Jones and the entire senior management team at The Telegraph, we have tremendous conviction in the growth potential of this incredibly important cultural institution.' RedBird took control of TMG through a joint venture with International Media Investments in 2023, though that deal was ultimately blocked by Parliament. The two kept control while soliciting bids over the last two years, and IMI will now stay on as a minority investor, subject to secondary legislation. 'RedBird has a 30-year track record partnering with iconic, longstanding brands and supporting their underlying intellectual property for new forms of monetization. We are looking forward to working with The Telegraph's exceptional leadership to deliver a growth plan that takes The Telegraph's journalism to new audiences around the world,' he continued. 'I also want to thank the Independent Directors and Deputy Chairman, Lord Black, for their tireless work and unwavering commitment to seeing this sale process through over the last two years. With this announcement, we are now looking forward to working with the Independent Directors and U.K. government regulators to complete our acquisition process.' Telegraph Media Group CEO Anna Jones further shared, 'Telegraph Media Group is an award-winning news media organization, with exceptional journalism at its heart, supported by leading commercial expertise, a commitment to innovation and a laser focus on data to drive strategy. RedBird Capital Partners have exciting growth plans that build on our success — and will unlock our full potential across the breadth of our business.' The post RedBird Capital Acquires Telegraph Media Group for $675 Million appeared first on TheWrap. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
23-05-2025
- Business
- Miami Herald
U.S. firm RedBird Capital reaches deal to purchase Britain's Telegraph Media Group
May 23 (UPI) -- The American RedBird Capital Partners private investment firm announced a deal Friday to purchase the British Telegraph Media Group. RedBird will pay $675 million to become the sole owner of the group, which owns The Daily Telegraph and Sunday Telegraph newspapers. "This transaction marks the start of a new era for The Telegraph as we look to grow the brand in the U.K. and internationally, invest in its technology and expand its subscriber base," RedBird Founder and Managing Partner Gerry Cardinale said. RedBird said it aims to expand TMG's presence in the United States and add new verticals such as events and travel to "maximize the commercial opportunities from a growing international and mass affluent subscriber base." "Telegraph Media Group is an award-winning news media organization, with exceptional journalism at its heart, supported by leading commercial expertise, a commitment to innovation and a laser focus on data to drive strategy," TMG CEO Anna Jones said. "RedBird Capital Partners have exciting growth plans that build on our success -- and will unlock our full potential across the breadth of our business. RedBird's deal to purchase TMG must still undergo regulatory approval after a previous bid by United Arab Emirates Vice President Sheikh Mansour bin Zayed Al Nahyan was rejected by Britain's last government. RedBird previously joined with Mansour's IMI Media Group to purchase the newspapers after they were seized for outstanding debts, seekign to curtail an auction of the assets by the Barclay family. The government, however, rejected the deal that would have seen IMI take majority ownership of the papers and passed a law barring foreign governments from owning British print media. If approved, TMG would join other acquisitions of Redbird, which include Skydance Media, which is expected to merge with Paramount, as well as sports-focused broadcasters such as Fenway Sports Group and the YES Network, plus Formula One's Alpine Racing team. It also owns the Italian professional football club AC Milan. Copyright 2025 UPI News Corporation. All Rights Reserved.
Yahoo
23-05-2025
- Business
- Yahoo
Telegraph sale 'agreed in principle' after two-year ownership impasse
A £500m deal to end the two-year ownership impasse at the Daily Telegraph has been agreed "in principle", it has been announced. A consortium led by US firm Redbird Capital was set to take control of Telegraph Media Group (TMG), with state-backed Abu Dhabi investment vehicle IMI among the investors. The pair's original joint venture, known as RedBird IMI, had originally agreed to buy the Telegraph titles in 2023. But prospects for a deal were held up by the previous Conservative government's subsequent ban on foreign state ownership of UK newspapers. Money latest: That ban was based on fears around editorial independence, but the rules were relaxed earlier this month by the current government which said a holding of up to 15% was acceptable. It is understood that UK-based media investors would be among the proposed owners within the consortium. Sky News reported on Monday that the Daily Mail's owner had been in talks over involvement. The Telegraph newspaper itself reported that regulatory hurdles remained - a factor that could yet scupper completion of the deal. Anna Jones, TMG chief executive, said: "Telegraph Media Group is an award-winning news media organisation, with exceptional journalism at its heart, supported by leading commercial expertise, a commitment to innovation and a laser focus on data to drive strategy. "RedBird Capital Partners have exciting growth plans that build on our success - and will unlock our full potential across the breadth of our business." RedBird, whose other UK interests include a 10% stake in the US group behind Liverpool FC, said its growth strategy would include "capital investment in digital operations, subscriptions and journalism". Its statement continued: "RedBird will build on the strong financial foundations established by the current management team and will work with them to grow the brand internationally, with a focus on the United States where RedBird has a strong strategic presence across news, media and sports. "Together, RedBird and TMG senior leadership will work to develop new content verticals in areas such as travel and events to maximise the commercial opportunities from a growing international and mass affluent subscriber base." Redbird founder Gerry Cardinale added: "This transaction 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. "We believe that the UK is a great place to invest, and this acquisition is an important part of RedBird's growing portfolio of media and entertainment companies in the UK."
Sky News
17-04-2025
- Health
- Sky News
Public bodies told to look at how equality laws are implemented after Supreme Court rules on 'woman' definition
Public bodies have been told to look at how equality laws are implemented after the Supreme Court ruling on the definition of a woman, a minister has said. On Wednesday, judges at the UK's highest court unanimously ruled the definition of a "woman" and "sex" in the Equality Act 2010 refers to "a biological woman and biological sex". Health minister Karin Smyth told Anna Jones on Sky News Breakfast: "Obviously, public bodies have been asked to look at their own guidance. "And we will do that very, very carefully." She said the court's ruling was "very clear" about women's rights being defined by sex, which she said "will give clarity to companies". But she warned against public bodies making statements "that may alarm people", telling them to take their time to look at their guidance. 2:10 The ruling marked the culmination of a long battle between campaign group For Women Scotland and the Scottish government after the group brought a case arguing sex-based protections should only apply to people born female. Judge Lord Hodge said the ruling should not be read as "a triumph of one or more groups in our society at the expense of another". He said the Equality Act 2010 "gives transgender people protection, not only against discrimination through the protected characteristic of gender reassignment, but also against direct discrimination, indirect discrimination and harassment in substance in their acquired gender". Ms Smyth said those who identify as transgender "will feel concerned" after the ruling but said the Gender Recognition Act still stands and gives people who identify differently to the sex they were born in "the dignity and privacy of presenting differently". She said NHS policy of having same sex wards remains, and the NHS has been looking at how to support both transgender men and women. 1:48 Scotland's First Minister John Swinney said the Scottish government "accepts" the judgment and said the ruling "gives clarity". Trina Budge, director of For Women Scotland, said it was a "victory for women's rights" and said the case was "never about trans rights" as transgender people are "fully protected in law". "It means there's absolute clarity in law regarding what a woman is. We know for sure now that we are referring to the biological sex class of women," she told Sky News. "And that when we see a women-only space, it means exactly that. Just women. No men. Not even if they have a gender recognition certificate." 2:12 Transgender woman and Scottish Greens activist Ellie Gomersall said the ruling "represents yet another attack on the rights of trans people to live our lives in peace". Scottish Greens MSP Maggie Chapman added: "This is a deeply concerning ruling for human rights and a huge blow to some of the most marginalised people in our society."
Sky News
21-03-2025
- Sky News
Heathrow closure: Back-up generator that could have kept airport open also 'affected by fire'
A back-up generator that could have kept Heathrow open was also affected by the fire that shut down the airport, Ed Miliband has revealed. The energy secretary told Sky News Breakfast with Anna Jones that it is "too early" to know what caused the blaze at a nearby electricity substation, which has left Heathrow without power and impacted more than 1,300 flights. Asked what this says about the safety of our critical infrastructure, Mr Miliband said he didn't want to "jump to conclusions" but added: "I understand it from the national grid there was a back-up generator, but that was also affected by the fire, which gives a sense of how unusual and unprecedented it was. "There is a second back-up which they are seeking to use to restore power, so there are back-up mechanisms in place, but given the scale of this fire the back-up mechanisms also seem to have been affected." He said that, as with any major incident, "we will want to understand why it happened and what, if any, lessons it has for our infrastructure". Speaking later on Good Morning Britain, he said the National Grid told him they had not seen "anything like the scale" of what happened with the fire and admitted that Heathrow's closure makes the airport look "quite vulnerable". Heathrow will remain shut until midnight because of the power outage caused by the fire. Tracking site Flightradar24 estimates 1,357 flights would be affected (679 into and 678 out of Heathrow) today, including around 120 which were already in the air this morning before the shutdown. A number of flights were turned around and returned to airports in Canada and the United States, while Gatwick Airport accepted seven diverted flights. Passengers have been warned to stay away from the airport and all trains to Heathrow have been suspended. Transport Secretary Heidi Alexander has yet to comment on the situation. A National Grid spokesperson said the fire had damaged equipment and they were "working at speed to restore power supplies as quickly as possible". London Fire Brigade said 10 fire engines and around 70 firefighters were still on the scene at Nestles Avenue in Hayes just before 6am with part of a transformer still alight. A Heathrow spokesperson said: "Whilst fire crews are responding to the incident, we do not have clarity on when power may be reliably restored. "We expect significant disruption over the coming days and passengers should not travel to the airport under any circumstances until the airport reopens. "We will provide an update when more information on the resumption of operations is available. We know this will be disappointing for passengers and we want to reassure that we are working as hard as possible to resolve the situation."
