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International Business Times

Business

UK Newspaper The Telegraph Set For US Ownership

RedBird United States United Kingdom RedBird Capital Partners RedBird Capital TMG Government Intervention RedBird IMI

US-Emirati consortium RedBird IMI struck a deal for The Telegraph in 2023, but the then Conservative government forced a resale (Credit: AFP)

British right-wing newspaper The Telegraph has agreed a takeover by US investment group RedBird Capital Partners, ending a two-year saga marked by UK government intervention over press freedoms.

RedBird has struck an "in-principle agreement" to purchase The Telegraph Media Group (TMG), which comprises the 170-year-old paper's print and online operations, for GBP500 million ($670 million), the pair announced in a statement on Friday.

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