The Telegraph to be sold for £500 million – London Business News | London Wallet

The Telegraph is to be bought for £500 million from a transatlantic consortium which is led by RedBird Capital Partners.

The Telegraph is one of the UK’s most famous newspaper and have confirmed an agreement has been made but there are no final deals done yet as it will be required for regulatory approvals.

Gerry Cardinale, the founder of RedBird Capital, was quoted by the Telegraph saying, “We believe the UK is a great place to invest, and this acquisition is an important part of RedBird’s growing portfolio of media and entertainment companies in the UK.”

Anna Jones, chief executive of Telegraph Media Group, said: “Telegraph Media Group is an award-winning news media organisation, with exceptional journalism at its heart, supported by leading commercial expertise, a commitment to innovation and a laser focus on data to drive strategy.

“RedBird Capital Partners have exciting growth plans that build on our success – and will unlock our full potential across the breadth of our business.”