Latest news with #US-Emirati
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.
Time of India
23-05-2025
- Business
- Time of India
UK newspaper The Telegraph set for US ownership
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel British right-wing newspaper The Telegraph is set to be acquired by U.S. investment firm RedBird Capital Partners in a deal worth £500 million ($670 million), the two parties announced Friday, according to has reached an "in-principle agreement" to purchase Telegraph Media Group (TMG), which includes the 170-year-old newspaper's print and digital assets, they said in a joint statement cited by agreement marks the end of a drawn-out sale process that lasted nearly two years and saw intervention from the former Conservative-led UK late 2023, a US-Emirati consortium, RedBird IMI, had previously struck a deal for TMG. However, concerns over press freedom due to Abu Dhabi's history of media censorship prompted the UK government to force a Capital said Friday the new agreement makes it 'the sole control owner' of TMG and 'unlocks a new era of growth for the title' founded in firm plans to invest in The Telegraph's digital operations, subscriptions, and journalism, aiming to expand the brand internationally. It also noted ongoing talks with 'select UK-based minority investors' who have expertise in print media and are committed to maintaining the paper's editorial values, AFP reported.
