RedBird Capital Seeks to Take Reins of The Telegraph

RedBird Capital Partners has sought British government approval for acquiring The Telegraph, valuing it at 500 million pounds. The purchase involves Abu Dhabi-backed IMI as a minority investor. The acquisition aims to resolve ownership uncertainty while addressing media independence concerns amid evolving journalistic challenges.

RedBird Capital Partners formally requested the British government's approval for its proposed acquisition of The Telegraph, which would place the company in sole control of the broadsheet. The deal is valued at 500 million pounds and involves Abu Dhabi-backed IMI as a capped minority investor.

The Conservative-leaning newspaper has faced ownership shifts since IMI acquired it alongside The Spectator magazine in 2023. A government ban on foreign state investments disrupted the previous deal, leading to the current sale. RedBird maintains confidence in The Telegraph's potential, despite challenges faced by the media.

A government source confirmed receipt of RedBird's request but the Department of Culture, Media, and Sport has not commented. A prior Public Interest Intervention Notice was issued when RedBird and IMI first pursued joint control. This decision comes amid concerns about media independence and political influence by foreign entities.

(With inputs from agencies.)