RedBird Capital Finalizes £500M Deal for Telegraph Media Group

U.S.-based RedBird Capital Partners has reached an “in-principle” agreement to acquire The Telegraph Media Group (TMG) for £500 million ($670 million), bringing to a close a two-year-long ownership saga that drew government scrutiny over press freedom concerns.

The agreement, announced jointly on Friday, secures full control of the 170-year-old British media institution for RedBird, ending the controversy sparked by an earlier deal involving a UAE-linked investment arm. That previous bid raised alarm in Westminster over potential editorial influence, prompting the Conservative government to intervene in late 2023.

With the new arrangement, RedBird becomes the sole controlling stakeholder in TMG—publisher of the daily Telegraph newspaper and its online platform—marking what the firm calls “a new era of growth” for the iconic British title.

RedBird founder and managing partner Gerry Cardinale emphasized the UK’s investment appeal and described The Telegraph as a “cultural institution” with major international growth potential. He noted plans to invest in digital infrastructure, subscriptions, and global expansion, particularly in the U.S. market. The company also confirmed it is in talks with UK-based minority investors to help preserve the paper’s editorial independence.

TMG CEO Anna Jones welcomed the deal, calling RedBird’s strategy “an exciting new chapter” for the publisher. “Their vision will unlock the full potential of The Telegraph,” she said.

The acquisition follows several other major media sales in the UK, including The Spectator’s £100 million purchase by hedge fund manager Paul Marshall and The Observer’s transition to online news outlet Tortoise Media.

RedBird’s media investments come amid a broader shift in the British media landscape, as traditional titles seek to modernize through tech-driven strategies and international partnerships.