Home / Business and Economy / Daily Mail Owner Buys Telegraph for £500M
Daily Mail Owner Buys Telegraph for £500M
22 Nov
Summary
- The Daily Mail's owner is set to acquire The Daily Telegraph for £500 million.
- This acquisition aims to secure the future and expand the Telegraph's global reach.
- The deal requires approval from UK regulatory bodies before finalization.
A significant media acquisition is underway as the owner of the Daily Mail has entered into a £500 million agreement to purchase The Daily Telegraph. This move aims to provide much-needed stability and confidence to Telegraph employees, assuring them of the title's long-term future under experienced management.
The proposed deal would integrate The Daily Telegraph into a larger portfolio that already includes the Daily Mail and The i Paper, among others. DMGT plans substantial investment to accelerate the Telegraph's international growth, with a strategic focus on expanding its presence in the United States, building on the Daily Mail's existing success there.
This transaction, however, is contingent upon approval from the UK's regulatory authorities. Crucially, the acquisition will not involve any foreign state investment or capital, adhering to the UK's Foreign State Influence regime. Editorial independence for The Daily Telegraph is also a key promise under the new ownership structure.
