RedBird Agrees to Buy Telegraph for £500 Million

A consortium led by RedBird Capital Partners has agreed in principle to acquire The Telegraph Media Group, publisher of the Daily and Sunday Telegraph, for £500 million (about $674 million). This deal follows UK government intervention that blocked a previous bid by Abu Dhabi-backed RedBird IMI over concerns of foreign state influence and press freedom. Under the proposed arrangement, RedBird Capital will be the controlling owner, while Abu Dhabi's IMI may retain up to a 15% minority stake pending legislative changes. RedBird plans significant investments in digital operations, technology, and international expansion, especially in the US market, and is seeking partnerships with UK-based media investors. The acquisition requires regulatory approval, with competition authorities monitoring potential cross-ownership issues. The agreement marks the largest investment in UK print media in a decade and has been welcomed by Telegraph staff and management.