Ending the two-year ownership vacuum, Milan boss Hongniao Capital will acquire the Telegraph

May 24th News After two years of turbulence, the Daily Telegraph is about to usher in a turning point. Under the preliminary agreement, the veteran British media will be acquired by a transatlantic consortium led by Red Bird Capital Partners, a move that will inject significant investment into the news business.

The founder of US private equity firm Cardinal has reached a principled agreement with the Redbird IMI investment entity to acquire control of the Daily Telegraph for £500 million. It is worth noting that Redbird IMI was banned from taking over the newspaper in full last year due to the majority stake in UAE capital, causing fierce controversy in the British Parliament regarding freedom of news reporting.

As the provider of one-quarter of the funds of Redbird IMI, Redbird Capital now plans to directly control the media giant and is expected to form a new holding alliance with local British media investors. The acquirer has formulated an ambitious development plan to accelerate the expansion of the Daily Telegraph in domestic and international markets.

However, the final agreement has not yet been concluded, and another bidder is trying to disrupt the situation, and the obstacles to regulatory approval are also ahead. The Daily Telegraph, which will celebrate its 170th anniversary next month, has been in a state of unbrokenness in the past two years.

Red Bird is also an investor in Fenway Sports Group, which is the owner of Premier League club Liverpool and also owns a controlling stake in the Ligue 1 Toulouse Club.