Dovid Efune Nears £550 Million Deal for Telegraph

Dovid Efune, the owner of the New York Sun, is nearing a £550 million deal to acquire The Telegraph from RedBird IMI, with discussions reportedly at an advanced stage and an agreement expected by next week. This potential takeover would conclude a 16-month battle for the newspaper, which has faced financial struggles and controversy over foreign ownership concerns. Efune's bid has outpaced offers from other interested parties, including David Montgomery's National World and hedge fund manager Paul Marshall. The acquisition follows RedBird IMI's previous efforts to buy The Telegraph, which were hindered by political scrutiny regarding foreign influence in British media. Efune's plans for the newspaper remain unclear, raising questions about its future direction under his ownership. The deal could also reflect a strategic profit for RedBird IMI, potentially recouping their initial £600 million investment in the publication.