RedBird Acquires The Telegraph in £500 Million Deal

RedBird Capital Partners has agreed to acquire The Telegraph in a deal worth £500 million (about $674 million), bringing clarity to the future of the iconic British newspaper after nearly two years of uncertainty.

The US-based investment firm announced that its founder, Gerry Cardinale, will purchase the publication from RedBird IMI, an investment platform backed by RedBird and majority-owned by the United Arab Emirates.

RedBird IMI had placed the newspaper group up for sale over a year ago, following UK government proposals aimed at preventing foreign states from owning stakes in British media outlets.

The transaction transfers full control of the Telegraph Media Group to RedBird Capital, while RedBird IMI will retain a small minority interest in compliance with UK regulations.

The deal also opens the door to potential minority investments from other UK media stakeholders. According to RedBird, talks are ongoing with unnamed British media investors interested in joining the new ownership structure.