Daily Mail owner Daily Mail and General Trust (DMGT) has agreed to acquire The Telegraph in a £500 million ($650 million) deal, marking one of the most significant restructurings in the British media landscape in recent years. The tie-up would consolidate two of the country’s most influential right-leaning news organisations under a single corporate umbrella.
The agreement, announced on Saturday, comes just a week after U.S.-based private investment firm RedBird Capital Partners withdrew its long-running bid for the newspaper. The exit ended a protracted period of uncertainty for The Telegraph, whose ownership has been in flux since 2023.
RedBird Withdrawal Cleared the Path
RedBird, alongside its Abu Dhabi-backed partner International Media Investments (IMI), had acquired the Telegraph Media Group and The Spectator magazine in 2023. However, the UK government intervened at the time to block foreign state-backed investors from taking ownership of British newspapers.
Under a revised proposal submitted earlier this year, IMI would have been capped at a 15% minority stake. Yet, according to a source close to RedBird cited by Reuters, the regulatory approval process progressed more slowly than expected. This delay, combined with mounting internal opposition from senior figures within The Telegraph newsroom, led the consortium to abandon the acquisition.
DMGT Moves Quickly to Secure the Deal
The Financial Times first reported that DMGT had reached an agreement to purchase the titles at a valuation of around £500 million—an amount intended to repay the funds injected by the RedBird-led group during their tenure. DMGT confirmed on Saturday that both parties had entered an exclusivity period to finalise the transaction and prepare regulatory submissions.
The company emphasised that the deal is fully compliant with the UK’s Foreign State Influence regime, stating that “there will be no foreign state investment or capital in the funding structure.”
DMGT has long expressed interest in acquiring The Telegraph. In 2023, it formally registered intent to explore a bid, and Sky News reported in May 2025 that the company had been in discussions to purchase a 9.9% stake in the titles.
A Major Expansion of DMGT’s Media Portfolio
The acquisition would place The Telegraph alongside a wide portfolio of DMGT media brands, including the Daily Mail, The Mail on Sunday, Metro, The i Paper, and New Scientist. DMGT said that The Daily Telegraph would remain editorially independent despite the ownership consolidation.
A spokesperson for RedBird IMI confirmed the agreement and noted that regulatory filings would be submitted to the Secretary of State shortly. The Telegraph itself did not immediately respond to requests for comment.
Regulatory Scrutiny Expected
Given the prominence of The Telegraph in British journalism and the political sensitivities surrounding media ownership, the transaction will likely face detailed review by UK authorities. However, DMGT expressed confidence that the approvals process would move swiftly.
If cleared, the acquisition would solidify DMGT’s position as one of the UK’s most powerful media conglomerates, changing the conservative press landscape and ending months of uncertainty over The Telegraph’s future ownership.