U.S. funding agency Redbird agrees to purchase Britain’s venerable Telegraph newspaper

The Daily and Sunday Telegraph newspapers and weekly newsmagazine The Spectator that are all carefully allied to Britain’s Conservative Party. File
| Photo Credit: AP

A consortium led by U.S. funding agency RedBird Capital Partners has agreed to purchase the writer of Britain’s 170-year-old Daily Telegraph newspaper for about 500 million kilos ($674 million), the 2 sides mentioned on Friday (May 23, 2025).

Redbird mentioned it has reached an settlement in precept to turn out to be the controlling proprietor of the Telegraph Media Group, ending a prolonged takeover saga for the conservative-leaning newspaper.

Gerry Cardinale, founder and managing accomplice of RedBird, mentioned 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, beforehand owned by Britain’s Barclay household, was put up on the market two years in the past to assist repay the household’s money owed. It revealed the each day and Sunday Telegraph newspapers and weekly newsmagazine The Spectator, that are all carefully allied to Britain’s Conservative Party.

In 2023, there was a proposal to purchase 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 household and the Vice-President of the United Arab Emirates. But the consortium pulled out final yr following sturdy opposition from the U.Okay. Government, which launched laws to dam overseas state possession of the British press.

The Spectator was bought individually in September to British hedge fund investor Paul Marshall.

Telegraph Media Group chief govt Anna Jones mentioned, “RedBird Capital Partners has exciting growth plans that build on our success — and will unlock our full potential across the breadth of our business”.