American Investment Company Redbird to purchase the Daily Telegraph newspaper in the United Kingdom | Business and economics

IMI from ABU DHABI will take a minority share in a company of no more than 15 percent.

Consortium, led by Redbird Capital Partners in the United States, agreed to purchase the 170 -year -old Daily Telegraph publisher of about $ 674 million (500 million pounds).

Ridberd said it had reached an agreement in principle to become a dominant owner of the Telegraph Media Group, which ended the long acquisition story in the conservative newspaper that tends to the province on Friday.

Jerry Cardinal, the founder and administrative partner of Ridberd, said that the sale “represents the beginning of a new era of telegraph while we look forward to the development of the brand in the United Kingdom and internationally, investing in its technology and expanding the base of the subscribers.”

The Telegraph Group, which it had previously owned for the Barclay family in the United Kingdom, was offered two years ago to help pay the debts of the family. It publishes the daily newspapers, Sunday Telegraph, and Newsmagazine weekly The Special, which all allied closely with the Conservative Party in the United Kingdom.

In 2023, There was an offer to buy posts From Redbird IMI, a consortium is supported by Redbird Capital Partners and Sheikh Mansour Bin Zayed Al Nahyan, a member of the royal family in Abu Dhabi and Vice President of the United Arab Emirates.

But the union started last year after a strong opposition from the UK government, which launched legislation to prevent the ownership of the foreign state of the British press.

Below the deal, IMI will take from Abu Dhabi a minority share Whoever does not exceed 15 percent of the telegraph as a member of the union. The sale must be approved by British organizers.

Redbird has investments in the AC MILAN football team, the parent company of Liverpool Football Club and the Skydance Film Company.

“Redbird Capital Partners is exciting growth plans that depend on our success – and our full potential will open through the expansion of our business,” said Anna Jones, CEO of Telegraph Media Group.

The spectator was sold in September to the British hedge fund investor Paul Marshall.