[The Telegraph is to be sold to a
transatlantic consortium led by
RedBird Capital Partners under a
preliminary deal to end two years
of gruelling uncertainty and deliver significant
investment in journalism.
Gerry Cardinale, the founder
of the US private equity firm,
has signed an agreement in principle
to acquire control of The Telegraph for
£500m from RedBird IMI, an investment
vehicle majority backed
by the United Arab Emirates.
RedBird IMI was blocked
by the Government from taking full
ownership last year following a
parliamentary outcry over press freedom.
Now, RedBird Capital, which provided
a quarter of RedBird IMI’s funding,
is moving to take direct control
of the publication and is expected
to be joined in the ownership group
by British media investors.
They have an ambitious plan
to accelerate The Telegraph’s
growth at home and abroad.]
https://www.telegraph.co.uk/business...dbird-capital/