Latest news with #US-Emirati
HKFP
6 days ago
- Business
- HKFP
NGOs urge UK to probe Telegraph newspaper sale over ‘China' ties
The UK government must investigate The Telegraph newspaper's sale to US investment group RedBird Capital and the risks of China's influence, human rights and freedom of expression groups demanded Wednesday. An open letter addressed to UK media minister Lisa Nandy, signed by nine organisations including Human Rights in China and Hong Kong Watch, alleged 'RedBird Capital's ties to China … threaten media pluralism, transparency, and information integrity in the UK'. RedBird Capital chair John Thornton sits on the advisory council of the China Investment Corporation, the country's largest sovereign wealth fund, the letter noted. In May RedBird agreed to buy the Telegraph Media Group (TMG), comprising the 170-year-old paper's print and online operations, for £500 million (US$678 million). Wednesday's letter provides a new twist to The Telegraph takeover saga, already marked by UK government intervention over foreign press influence. US-Emirati consortium RedBird IMI, comprising Redbird Capital, struck a deal for TMG in late 2023. However, the previous UK government triggered a swift resale amid concern over the potential impact on freedom of speech given Abu Dhabi's press censorship record. 'Pending robust investigations, the (new) planned merger should be placed on hold,' NGOs, including also Article 19 and Free Tibet, stated in Wednesday's letter. 'We believe that there is reasonable ground to suspect the Telegraph acquisition by RedBird Capital raises both public interest and potential foreign media influence concerns,' it added. RedBird Capital Partners rejected accusations of China's influence. 'There is no Chinese involvement or influence in RedBird Capital's proposed acquisition of the Telegraph,' a spokesperson said in a statement emailed to AFP. 'After two years of regulatory limbo, it is now time to close this acquisition and finally position The Telegraph for growth.' The UK government had yet to respond.
Daily Tribune
24-05-2025
- Business
- Daily Tribune
UK newspaper The Telegraph set for US ownership
AFP | London British right-wing newspaper The Telegraph has agreed a takeover by US investment group RedBird Capital Partners, ending a two-year saga marked by UK government intervention over press freedoms. RedBird has struck an 'in-principle agreement' to purchase The Telegraph Media Group (TMG), which comprises the 170-year-old paper's print and online operations, for £500 million ($670 million), the pair announced in a statement on Friday. It concludes a protracted sale that involved an intervention by the previous Conservative government. US-Emirati consortium RedBird IMI, comprising RedBird Capital, had already struck a deal for TMG in late 2023.
NDTV
23-05-2025
- Business
- NDTV
UK Newspaper The Telegraph Set For US Ownership
Britain: British right-wing newspaper The Telegraph has agreed a takeover by US investment group RedBird Capital Partners, ending a two-year saga marked by UK government intervention over press freedoms. RedBird has struck an "in-principle agreement" to purchase The Telegraph Media Group (TMG), which comprises the 170-year-old paper's print and online operations, for 500 million euros ($670 million), the pair announced in a statement on Friday. It concludes a protracted sale that involved an intervention by the previous Conservative government. US-Emirati consortium RedBird IMI, comprising Redbird Capital, had already struck a deal for TMG in late 2023. However, the previous UK government triggered a swift resale amid concern over the potential impact on freedom of speech given Abu Dhabi's press censorship record. RedBird Capital Partners on Friday said the agreement struck with TMG makes it "the sole control owner" and "unlocks a new era of growth for the title" founded in 1855. "RedBird's growth strategy will include capital investment in digital operations, subscriptions and journalism as it looks to expand The Telegraph internationally." The US group added it is in "discussions with select UK-based minority investors with print media expertise and strong commitment to upholding the editorial values of" the paper. It comes after the current Labour government recently struck a trade agreement with the United States, as Prime Minister Keir Starmer enjoys cordial relations with US President Donald Trump despite the latter's tariffs blitz. 'Cultural Institution' "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," said RedBird's founder and managing partner, Gerry Cardinale. As for The Telegraph, he added that RedBird has "tremendous conviction in the growth potential of this incredibly important cultural institution". TMG chief executive Anna Jones said RedBird "will unlock" The Telegraph's "full potential". "RedBird Capital Partners have exciting growth plans that build on our success," she added. The US group said it will look to expand The Telegraph's global reach, particularly in the United States. "RedBird's growth strategy will include capital investment in... digital operations to continue driving subscriptions, using best in-class data analytics and Artificial Intelligence tools," it added. TMG last year agreed to sell British right-wing magazine The Spectator to hedge fund manager Paul Marshall for 100 million euros. At the end of 2024, Britain's Guardian Media Group struck a deal to sell the world's oldest Sunday newspaper, The Observer, to online news company Tortoise Media. Tortoise has carved out an online niche with in-depth reports, characterising its overall approach as not "breaking news but what's driving the news" with investigations and podcasts.
France 24
23-05-2025
- Business
- France 24
UK newspaper The Telegraph set for US ownership
RedBird has struck an "in-principle agreement" to purchase The Telegraph Media Group (TMG), which comprises the 170-year-old paper's print and online operations, for £500 million ($670 million), the pair announced in a statement on Friday. It concludes a protracted sale that involved an intervention by the previous Conservative government. US-Emirati consortium RedBird IMI, comprising Redbird Capital, had already struck a deal for TMG in late 2023. However, the previous UK government triggered a swift resale amid concern over the potential impact on freedom of speech given Abu Dhabi's press censorship record. RedBird Capital Partners on Friday said the agreement struck with TMG makes it "the sole control owner" and "unlocks a new era of growth for the title" founded in 1855. "RedBird's growth strategy will include capital investment in digital operations, subscriptions and journalism as it looks to expand The Telegraph internationally." The US group added it is in "discussions with select UK-based minority investors with print media expertise and strong commitment to upholding the editorial values of" the paper. It comes after the current Labour government recently struck a trade agreement with the United States, as Prime Minister Keir Starmer enjoys cordial relations with US President Donald Trump despite the latter's tariffs blitz. 'Cultural institution' "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," said RedBird's founder and managing partner, Gerry Cardinale. As for The Telegraph, he added that RedBird has "tremendous conviction in the growth potential of this incredibly important cultural institution". TMG chief executive Anna Jones said RedBird "will unlock" The Telegraph's "full potential". "RedBird Capital Partners have exciting growth plans that build on our success," she added. The US group said it will look to expand The Telegraph's global reach, particularly in the United States. "RedBird's growth strategy will include capital investment in... digital operations to continue driving subscriptions, using best in-class data analytics and Artificial Intelligence tools," it added. TMG last year agreed to sell British right-wing magazine The Spectator to hedge fund manager Paul Marshall for £100 million.
Int'l Business Times
23-05-2025
- Business
- Int'l Business Times
UK Newspaper The Telegraph Set For US Ownership
British right-wing newspaper The Telegraph has agreed a takeover by US investment group RedBird Capital Partners, ending a two-year saga marked by UK government intervention over press freedoms. RedBird has struck an "in-principle agreement" to purchase The Telegraph Media Group (TMG), which comprises the 170-year-old paper's print and online operations, for GBP500 million ($670 million), the pair announced in a statement on Friday. It concludes a protracted sale that involved an intervention by the previous Conservative government. US-Emirati consortium RedBird IMI, comprising Redbird Capital, had already struck a deal for TMG in late 2023. However, the previous UK government triggered a swift resale amid concern over the potential impact on freedom of speech given Abu Dhabi's press censorship record. RedBird Capital Partners on Friday said the agreement struck with TMG makes it "the sole control owner" and "unlocks a new era of growth for the title" founded in 1855. "RedBird's growth strategy will include capital investment in digital operations, subscriptions and journalism as it looks to expand The Telegraph internationally." The US group added it is in "discussions with select UK-based minority investors with print media expertise and strong commitment to upholding the editorial values of" the paper. It comes after the current Labour government recently struck a trade agreement with the United States, as Prime Minister Keir Starmer enjoys cordial relations with US President Donald Trump despite the latter's tariffs blitz. "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," said RedBird's founder and managing partner, Gerry Cardinale. As for The Telegraph, he added that RedBird has "tremendous conviction in the growth potential of this incredibly important cultural institution". TMG chief executive Anna Jones said RedBird "will unlock" The Telegraph's "full potential". "RedBird Capital Partners have exciting growth plans that build on our success," she added. The US group said it will look to expand The Telegraph's global reach, particularly in the United States. "RedBird's growth strategy will include capital investment in... digital operations to continue driving subscriptions, using best in-class data analytics and Artificial Intelligence tools," it added. TMG last year agreed to sell British right-wing magazine The Spectator to hedge fund manager Paul Marshall for GBP100 million. At the end of 2024, Britain's Guardian Media Group struck a deal to sell the world's oldest Sunday newspaper, The Observer, to online news company Tortoise Media. Tortoise has carved out an online niche with in-depth reports, characterising its overall approach as not "breaking news but what's driving the news" with investigations and podcasts.
