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The Guardian - UK
The Guardian - UK
Business
Alex Lawson

Abu Dhabi-backed fund says it will take control of Telegraph and Spectator

Spectator Barclay RedBird IMI Abu Dhabi RedBird Barclays Lloyds Lloyds Banking Group RedBird Capital
A stack of Daily Telegraph newspapers
RedBird IMI said the agreement would ‘bring the Telegraph and Spectator out of receivership’. Photograph: Martin Godwin/The Guardian

The Abu Dhabi-backed investment fund RedBird IMI has said it is to take control of the Telegraph and Spectator after agreeing loans to repay debts owed by their publishing group’s previous owners, the Barclay family.

The deal would entail a joint venture between the US firm RedBird Capital and International Media Investments of Abu Dhabi providing loans to the family, allowing them to pay off their debts to Lloyds Banking Group and take back the publications within weeks.

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