Daily Mail signs £500mn deal to acquire The Telegraph
Daily Mail and General Trust (DMGT), the parent company of the Daily Mail, has reached a £500 million ($654 million) agreement with US-Emirati consortium RedBird IMI to acquire The Telegraph newspaper, the company announced Saturday.
In a statement shared with AFP, DMGT confirmed it had “signed an agreement with RedBird IMI over the acquisition of the Telegraph Media Group at a valuation of £500 million.”
If finalised, the deal would bring the 170-year-old Telegraph under the same ownership as the Daily Mail, creating one of the UK’s most influential right-leaning media groups.
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