Redbird notes the British newspaper Daily Telegraph | EUROtoday

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The American funding fund Redbird has introduced that it has reached a “general agreement” for the acquisition of the Daily Telegraph, the historic British newspaper of conservative orientation, for 500 million kilos (595 million euros). The settlement represents “the greatest investment” made by the fund “in the British press in a decade and inaugurates a new growth era” for the Telegraph, “a header with 170 years of history”, reads a observe from the fund. The Telegraph Media Group editorial group for about two years was on the middle of negotiations.

Redbird Capital, from 2022 proprietor right here by us of AC Milan, within the match was flanked by the IMI funding fund, supported by the state of Abu Dhabi. The group would have constituted a three way partnership to finalize the takeover, to which British traders within the media sector would even be added.

The prospect of an settlement had lengthy been blocked by the ban, launched by the earlier conservative authorities, of international state participations in British newspapers, motivated by fears associated to editorial independence. However, the restrictions had been loosened firstly of May by the brand new govt, opening the way in which to the negotiation.