Latest news with #RedBirdCapitalPartners
Yahoo
26-05-2025
- Business
- Yahoo
US investment firm Redbird plans to buy Britain's Telegraph newspaper
A consortium led by US investment firm RedBird Capital Partners has agreed to buy the publisher of Britain's 170-year-old Daily Telegraph newspaper for about £500 million (€595.5m), the two sides said on Friday. RedBird said it has reached an agreement in principle to become the controlling owner of the Telegraph Media Group, ending 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 and weekly newsmagazine The Spectator, which are all closely allied to Britain's Conservative Party. In 2023, there was an offer to buy the publications from RedBird IMI, a consortium backed by RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of Abu Dhabi's royal family and the vice president of the United Arab Emirates. However, the consortium pulled out last year following strong opposition from the UK government, which launched legislation to block foreign state ownership of the British press. Under the deal, Abu Dhabi's IMI will take a minority stake of not more than 15% in the Telegraph as a member of the consortium. The sale must be approved by British regulators. RedBird has investments in soccer team AC Milan, the parent company of Liverpool football club and film production company Skydance. Telegraph Media Group chief executive Anna Jones said that '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 Spectator was sold separately in September to British hedge fund investor Paul Marshall.
Euronews
26-05-2025
- Business
- Euronews
US investment firm Redbird plans to buy Britain's Telegraph newspaper
A consortium led by US investment firm RedBird Capital Partners has agreed to buy the publisher of Britain's 170-year-old Daily Telegraph newspaper for about £500 million (€595.5m), the two sides said on Friday. RedBird said it has reached an agreement in principle to become the controlling owner of the Telegraph Media Group, ending 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 and weekly newsmagazine The Spectator, which are all closely allied to Britain's Conservative Party. In 2023, there was an offer to buy the publications from RedBird IMI, a consortium backed by RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of Abu Dhabi's royal family and the vice president of the United Arab Emirates. However, the consortium pulled out last year following strong opposition from the UK government, which launched legislation to block foreign state ownership of the British press. Under the deal, Abu Dhabi's IMI will take a minority stake of not more than 15% in the Telegraph as a member of the consortium. The sale must be approved by British regulators. RedBird has investments in soccer team AC Milan, the parent company of Liverpool football club and film production company Skydance. Telegraph Media Group chief executive Anna Jones said that '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 Spectator was sold separately in September to British hedge fund investor Paul Marshall. When talking about your salary in Europe, do you refer to the gross amount or the net figure? It's an important distinction as take-home pay can vary significantly from one country to another. The main reasons for these differences are variations in taxation and social security contributions. In some countries, family allowances also have a considerable impact. So, where do workers take home the most pay across Europe? And how much of your gross salary do you keep after taxes and deductions? The answer largely depends on whether you have dependent children and if your partner earns an income. In several countries, this can make you eligible for family allowances or even tax refunds. With this in mind, Euronews has examined three typical scenarios for 2024. These scenarios are based on individuals earning 100% of the average national wage. For those earning more or less than the average, the take-home ratio will differ accordingly. Net earnings represent the amount a person or household keeps after subtracting taxes and employee social security contributions from gross pay, and adding any family benefits for dependent children. In 2024, according to Eurostat, a single person without children in the EU takes home, on average, 68.6% of their gross salary. This means that if the average salary in your country is €1,000, you keep €686, while €314 goes to taxes and social security contributions. Among 31 countries—including all EU member states plus Switzerland, Norway, Iceland, and Turkey—the take-home pay ratio (annual net earnings as a percentage of gross earnings) ranged from just 60.3% in Belgium to 84.4% in Cyprus. Seven countries offered less than two-thirds of gross pay as take-home income. Besides Belgium, they included: Lithuania (61.8%), Germany (62.6%), Romania (63.1%), Denmark (64.3%), Slovenia (64.4%) and Hungary (66.5%). In ten countries, workers can take home at least three-quarters (75%) of their gross earnings, making them the best places in Europe for higher net pay. The ratio exceeds 80% in Cyprus and Switzerland. Other countries on the list include Estonia (79.5%), Czechia (79%), Bulgaria (77.6%), Spain (77.5%), Sweden (76.9%), Slovakia and Poland (both 75.9%), and Portugal (75%). By comparison, the take-home rate is 71.9% in France and 69.6% in Italy. For one-earner couples with two children, take-home pay ratios shift significantly in some countries, while in others they stay close to the level for single individuals without children. Across the EU, the average take-home rate is 82.6%, ranging from 70.4% in Romania to 107.1% in Slovakia, followed by 102.5% in Poland. In these two countries, net earnings actually exceed gross earnings. This is not only due to family allowances but also the implementation of a 'negative income tax,' which provides extra financial support and reflects strong family-friendly policies. The ratio is also above 90% in Switzerland, Czechia, Luxembourg, and Portugal. At the lower end, aside from Romania, it falls below 75% in Turkey, Denmark, and Finland. The largest increases compared to single individuals without children were seen in Slovakia (+31.2 percentage points), Poland (+26.6 pp), Luxembourg (+22.4 pp), and Belgium (+19.8 pp). The rate remained unchanged in Turkey, while the smallest increases were recorded in Greece (+2.4 pp), Cyprus (+4.3 pp), Finland (+4.6 pp), Norway (+4.8 pp), and Sweden (+5.9 pp). On average, a two-earner couple with two children in the EU takes home 73.6% of their gross earnings, with the rate ranging from 65.8% in Belgium to 88.9% in Slovakia. Compared to single individuals without children, the take-home rate remains unchanged in Turkey and Greece. The highest increase was recorded in Slovakia, at 13 percentage points. In only eight countries, the rise exceeded 5 percentage points, suggesting that family allowances for households with children often do not lead to a significant boost in take-home pay. Would you be more interested in actual salary figures rather than just ratios? In 2024, in the EU, a single person without children earning 100% of the average salary takes home €29,573 out of a gross €43,105. Switzerland is an outlier in both gross and net salaries, with figures exceeding €100,000 and €85,000 respectively. In this scenario, annual net earnings exceeded €50,000 in Iceland and Luxembourg, while Bulgaria (€11,074) and Turkey (€11,440) recorded the lowest net salaries. In five additional countries, net earnings surpassed the €40,000 mark, including the Netherlands, Norway, Denmark, Ireland, and Austria. Annual net earnings for a one-earner couple with two children ranged from €11,440 in Turkey to €98,835 in Switzerland, while the EU average was €35,656. In the two-earner couple with two children scenario, net earnings or salaries ranged from €22,880 in Turkey to €178,553 in Switzerland, with the EU average at €63,523. All these actual figures also indicate the level of income inequality across Europe. For a detailed comparison of annual net earnings—including purchasing power standards—across Europe, check out our full article, entitled: "Top earners in Europe" Curious about how real wages changed in 2024 compared to 2023? Our article 'Where Did Real Wages Rise and Fall the Most in Europe in 2024?' takes a closer look at the shifts—adjusted for inflation.
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.
New Indian Express
23-05-2025
- Business
- New Indian Express
US investment firm Redbird agrees to buy Britain's venerable Telegraph newspaper
LONDON: A consortium led by US investment firm RedBird Capital Partners has agreed to buy the publisher of Britain's 170-year-old Daily Telegraph newspaper for about 500 million pounds ($674 million), the two sides said Friday. Redbird said it has reached an agreement in principle to become controlling owner of the Telegraph Media Group, ending 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 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 published the daily and Sunday Telegraph newspapers and weekly newsmagazine The Spectator, which all are closely allied to Britain's Conservative Party. In 2023 there was an offer to buy the publications from RedBird IMI, a consortium backed by RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of Abu Dhabi's royal family and the vice president of the United Arab Emirates. But the consortium pulled out last year following strong opposition from the UK government, which launched legislation to block foreign state ownership of the British press. The Spectator was sold separately in September to British hedge fund investor Paul Marshall. Telegraph Media Group chief executive 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.'
The Hindu
23-05-2025
- Business
- The Hindu
U.S. investment firm Redbird agrees to buy Britain's venerable Telegraph newspaper
A consortium led by U.S. investment firm RedBird Capital Partners has agreed to buy the publisher of Britain's 170-year-old Daily Telegraph newspaper for about 500 million pounds ($674 million), the two sides said on Friday (May 23, 2025). Redbird said it has reached an agreement in principle to become the controlling owner of the Telegraph Media Group, ending 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 U.K. and internationally, invest in its technology and expand its subscriber base'. The 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 published the daily and Sunday Telegraph newspapers and weekly newsmagazine The Spectator, which are all closely allied to Britain's Conservative Party. In 2023, there was an offer to buy the publications from RedBird IMI, a consortium backed by RedBird Capital Partners and Sheikh Mansour bin Zayed Al Nahyan, a member of Abu Dhabi's royal family and the Vice-President of the United Arab Emirates. But the consortium pulled out last year following strong opposition from the U.K. Government, which launched legislation to block foreign state ownership of the British press. The Spectator was sold separately in September to British hedge fund investor Paul Marshall. Telegraph Media Group chief executive Anna Jones said, 'RedBird Capital Partners has exciting growth plans that build on our success — and will unlock our full potential across the breadth of our business'.
