US investment group buys British newspaper The Telegraph

The Telegraph, Britain's oldest newspaper, is set to be sold to US investment group RedBird Capital Partners in a deal worth £500 million ($670 million).

In a joint announcement on May 23, RedBird said it had reached an "agreement in principle" to buy The Telegraph Media Group (TMG), which owns both the print and online versions of the 170-year-old newspaper.

RedBird said the deal with TMG makes it "sole owner" and "ushers in a new era of growth for the newspaper" founded in 1855.

RedBird's growth strategy will include investing capital in digital, subscription and journalism operations, with the aim of expanding The Telegraph internationally, the group said.

In addition, the US group also revealed that it is in discussions with a number of UK-based investors who have expertise in print media and a strong commitment to maintaining The Telegraph's editorial values.

The deal ends a nearly two-year negotiation process that included intervention from Britain's previous Conservative government./ .

(Vietnam News Agency/Vietnam+)

Source: https://www.vietnamplus.vn/tap-doan-dau-tu-my-mua-lai-bao-the-telegraph-cua-anh-post1040301.vnp