UAE Vice President’s Abu Dhabi Firm to Acquire Minority Share in The Telegraph

RedBird-Led Consortium to Acquire Telegraph in £500 Million Deal with Minority Stake for UAE VP-Owned Firm

The Telegraph is set to change hands as a consortium led by U.S.-based RedBird Capital Partners has reached an in-principle agreement to acquire the historic British newspaper for around £500 million.This is a significant step in the two-year ownership drama involving the 170-year-old publication.

RedBird IMI, a joint venture between RedBird and International Media Investments (IMI), a company that is primarily owned by Sheikh Mansour bin Zayed Al Nahyan, the vice president of the United Arab Emirates, started the acquisition in 2023. However, the UK Government blocked the deal at the time, invoking new regulations aimed at limiting foreign state influence in British media. However, using new rules intended to reduce foreign state influence in British media, the UK government at the time blocked the deal. The Spectator magazine, initially part of the deal, was later sold separately to Paul Marshall’s OQS Ventures for £100 million.

Under the newly structured agreement, RedBird Capital will become the primary owner of The Telegraph. IMI’s involvement will now be limited to a minority interest, capped at 15%, in compliance with the UK’s revised media ownership rules. This allows the UAE-linked entity to remain part of the consortium without exceeding legal constraints.

Reports also suggest that RedBird has been in discussions with Daily Mail publisher DMGT about acquiring a near 10% stake in the business. RedBird, known for its stakes in AC Milan, Skydance Media, and Fenway Sports Group, aims to expand The Telegraph’s digital footprint, increase subscriptions, and grow the brand both in the UK and globally.

Gerry Cardinale, RedBird’s founder, emphasized the group’s strategic ambitions: “This acquisition represents a new chapter for The Telegraph. We plan to scale its presence internationally, boost technology investment, and grow its subscriber community. The UK remains a key market for our expanding media and entertainment portfolio.”

Telegraph Media Group CEO Anna Jones welcomed the development, stating: “Our organisation, built on world-class journalism and commercial innovation, is well-positioned to thrive. RedBird’s vision for growth aligns with our strategy and unlocks vast potential across our operations.”