Daily Mail Owner DMGT Secures $650M Deal to Acquire The Telegraph

Daily Mail owner, DMGT, has announced a £500 million ($650 million) agreement to acquire rival newspaper, The Telegraph, a deal set to create one of the UK’s most influential right-leaning media groups.

The move follows U.S.-based investment firm RedBird Capital Partners’ withdrawal of its bid for The Telegraph last week. RedBird and IMI had acquired the Telegraph Media Group and The Spectator magazine in 2023, but the UK government later blocked foreign state investment in British newspapers.

A source close to RedBird told Reuters that regulatory delays and resistance from senior newsroom figures at The Telegraph contributed to their decision to pull out. The £500 million price tag reportedly aims to recoup the consortium’s previous investment.

DMGT confirmed that both parties have entered an exclusivity period to finalize the deal and complete regulatory filings, which are expected to move quickly. The transaction will fully comply with UK Foreign State Influence rules, ensuring no foreign state capital is involved.

DMGT, which had previously shown interest in acquiring The Telegraph Media Group in 2023 and considered a 9.9% stake earlier this year, owns titles including The Mail on Sunday, Metro, The i Paper, and New Scientist. The company emphasized that The Daily Telegraph will maintain editorial independence.

A spokesperson for RedBird IMI stated, “DMGT and RedBird IMI have worked swiftly to reach the agreement announced today, which will shortly be submitted to the Secretary of State.”

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