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The Guardian - UK

Business

Mark Sweney

Daily Mail owner strikes £500m deal to buy Telegraph titles

Mail DMGT RedBird IMI Rothermere IMI RedBird Capital Daily Telegraph

Masthead of British newspaper the Telegraph. — Lord Rothermere has long coveted taking control of the Telegraph titles. Photograph: Richard A Brooks/AFP/Getty

The owner of the Daily Mail has struck a £500m deal to buy the Telegraph titles, in a move that will create a right-leaning publishing powerhouse.

Lord Rothermere’s Daily Mail & General Trust (DMGT) has entered a period of exclusivity with RedBird IMI, which has been seeking a buyer since being forced to put the papers up for sale last spring, to complete the terms of the transaction.

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