German media group Axel Springer said Friday it had agreed to acquire Britain’s Telegraph Media Group for 575 million pounds ($766.3 million) in cash, ending a long period of uncertainty over the newspaper’s ownership.
The deal fell through Daily Mail owner DMGT’s attempt to buy its broadsheet rival, which was the subject of regulatory investigations in Britain amid concerns about media plurality.
Axel Springer said this would preserve the Telegraphwhile providing a platform for expansion, including into the United States, and reaffirmed its commitment to “high-quality, independent journalism” and media plurality in Britain.
After purchasing Policy in a deal valued at approximately $1 billion in 2021, the Telegraph The purchase becomes Axel Springer’s second largest investment since its founding in 1946, following a previous unsuccessful attempt to acquire the newspaper in 2004.
“Quick and efficient” negotiations
Mathias Dopfner, CEO of Axel Springer, said that the owner of the Telegraph was “a privilege and a duty”.
He said the group wanted to grow the title while preserving its character and helping it become “the most widely read and intellectually inspiring center-right media outlet in the English-speaking world.”
He recognized Telegraph staff faced a prolonged period of uncertainty and stated that the publisher intended to “put an end to this uncertainty”.
The company credited New York sunshine publisher Dovid Efune for his support in the agreement.
Efune led a consortium with Axel Springer to bid for the securities last month, but Axel Springer closed the deal alone.
RedBird IMI said it was pleased to have reached an agreement following “quick and efficient” negotiations.
“With the strength of their commercial offering and a straightforward regulatory pathway to ownership, we believe Axel Springer is well placed to take over. Telegraph moving forward into its next chapter,” RedBird said in a statement.
The companies said they were now working with the UK government to obtain the necessary approvals.
Culture Minister Lisa Nandy’s decision last month to issue a public interest intervention notice sent DMGT’s deal to regulators, who were considering the implications for media plurality and competition.
Nandy’s office did not immediately respond to a request for comment.
A long-standing ownership dispute
This agreement ends a saga which began in June 2023, when Lloyds Banking Group effectively regained ownership of the capital. Telegraph after long-standing ownership, the Barclay family found itself behind on around £1.2 billion of debts secured against the media group.
RedBird IMI took control after repaying a £600 million loan owed to Lloyds, but the titles remained in limbo as Britain moved to block foreign state involvement in national newspapers, forcing it to backtrack.
The American investment company RedBird Capital Partners then tried to buy the group, IMI, backed by Abu Dhabi, taking a minority position, but the operation failed in November 2025.
The offering had been restructured to comply with new rules capping foreign state ownership at 15%, but was withdrawn after a slower-than-expected regulatory process and internal opposition from senior officials. Telegraph editorial figures.
