Daily Mail Eyes Telegraph: A Conservative Media Merger

The Daily Mail's publisher is in talks to acquire Telegraph Media Group, linking two conservative-leaning news entities. The deal, valued at 500 million pounds, faces scrutiny over foreign ownership concerns. Culture Secretary Lisa Nandy will review the acquisition to ensure it aligns with public interest and media regulations.

The publisher of Britain's Daily Mail has announced exclusive negotiations to acquire the Telegraph Media Group. This move could unite two prominent news organizations that have historically endorsed the right-leaning Conservative Party.

According to Daily Mail and General Trust plc, the discussions aim to finalize a 500 million-pound (USD 654 million) agreement to purchase the Telegraph from an Abu Dhabi-backed venture known as Redbird IMI.

Concerns about foreign ownership had previously delayed Redbird IMI's attempts to gain control of the Telegraph. UK Culture Secretary Lisa Nandy pledged to scrutinize any acquisition to ensure it serves the public interest and adheres to laws on "foreign state influence" in media mergers.

(With inputs from agencies.)