Daily Mail owner strikes $650 million deal to buy Telegraph
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DMGT to buy The Telegraph for £500 million
DMGT, the British media company, has signed an agreement with RedBird IMI over the acquisition of the Telegraph Media Group (TMG), which would value it at £500 million. It is a landmark agreement for the British press industry.
The deal that can’t get done. Who will buy The Telegraph now? - COMMENT: The collapse of the £500m takeover of one of Britain’s most famous news organisations by US private equity firm RedBird leaves burning questions about the newspaper’s future.
U.S. investment firm RedBird Capital has dropped its offer to buy the publisher of Britain’s 170-year-old conservative-leaning Daily Telegraph newspaper for about 500 million pounds ($660 million)
The exit by RedBird Capital Partners comes months after it agreed to buy control of the media company in a deal that valued it at $658 million.
Daily Mail and General Trust DMGT has entered exclusive negotiations to acquire The Telegraph Media Group TMG in a proposed deal.The publisher of the Daily Mail has agreed to buy the Daily
Daily Mail owner DMGT just struck an over $650 million deal to buy its rival U.K.-based newspaper, The Daily Telegraph