Telegraph bought by US private equity giant Media The Daily Telegraph is poised to be sold to an investment consortium led by a US private equity firm, bringing a likely end to two years of uncertainty over its ownership. Redbird Capital Partners, one half of the vehicle which first bought the broadsheet newspaper from Lloyds bank in 2023, is the lead investor in [...]
Mark Kleinman: Reeves’ City IPO push still lacks momentum Business Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column Reeves’ City IPO push still lacks momentum It’s the City’s most oft-recurring question: how do you reverse the alarming decline in London’s attractiveness as a destination for IPOs? The bald statistics legitimise the urgency of the [...]
The Spectator: RedbirdIMI sale forces magazine into the red for the first time since 2012 Media The Spectator crashed into the red for the first time in more than a decade after its initial sale to RedbirdIMI, it has been revealed. The magazine has posted a pre-tax loss of £6.8m for 2023, according to delayed accounts filed with Companies House after the sale cost it £6.4m. The loss came after the [...]
Mark Kleinman: Hold the Telegraph front page – then hold it some more December 27, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles the Telegraph bid, Mike Ashley’s failed Boohoo approach and an oil deal in the North Sea I suspect you’d have got long odds on January 1 on the auction of The Daily [...]
Telegraph frontrunner has ‘high confidence’ in bid despite losing backer November 14, 2024 The frontrunner in the race to buy The Telegraph has maintained that his bid for the paper is still on track despite one of his key backers withdrawing its financial support. Dovid Efune, the British owner of the New York Sun, had entered exclusive talks to buy The Telegraph Media Group last month after trumping [...]
Hollyoaks maker comes down from US high October 7, 2024 Turnover at the maker of Hollyoaks, The Only Way is Essex and Geordie Shore fell back to expected levels in 2023 after experiencing a spike in the prior year. Liverpool-headquartered Lime Pictures has reported a turnover of £65.2m for 2023 after its sales surged to £100.9m in 2022. The rise in 2022 came after the [...]
US bidder Dovid Efune set to buy Telegraph for £550m next week October 6, 2024 Dovid Efune, the owner of the New York Sun, is reportedly on the verge of buying The Daily Telegraph and its Sunday title for £550m, with signs a deal could be inked as early as next week. This weekend, Efune was engaged in advanced discussions with Redbird IMI, the current proprietor of the British broadsheet, although [...]
The Telegraph streamlines ownership structure as sale nears a close September 30, 2024 The Telegraph’s ownership structure has been streamlined as bidders for the prestigious London-based publication prepare for a final decision within the next two weeks. In a memo to staff on Monday, Telegraph Media Group boss Anna Jones also confirmed the sale process is advancing, with multiple second-round bids received, Sky News reported. RedBird IMI, the [...]
Media mogul Conrad Black reportedly set to back US bid for The Telegraph September 12, 2024 Lord Conrad Black, the media tycoon who owned The Daily Telegraph for nearly two decades, may be set to return to the British broadsheet. Black has been floated as a potential backer of a bid for The Telegraph, led by Dovid Efune, owner of The New York Sun, according to Sky News. One insider suggested [...]
Redbird IMI sells The Spectator to Sir Paul Marshall for £100m September 10, 2024 Redbird IMI has sold The Spectator magazine, part of the Telegraph Media Group, to hedge fund magnate Sir Paul Marshall’s Old Queen Street (OQS) Media for £100m. OQS Media owns and operates the online magazine UnHerd, the Old Queen Street Café, the UnHerd Club and CoEditor Limited, a publishing technology startup. Sir Paul Marshall, also [...]