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US private equity firm hopes to secure deal for Telegraph
The Guardian
|April 28, 2025
The US private equity firm RedBird Capital is confident of tabling a deal to take control of the Daily and Sunday Telegraph potentially as soon as next month in an attempt to end two years of "paralysis and unhappiness" at the 170-year-old titles.
The firm's founder, Gerry Cardinale, is personally involved in drawing up a plan to either form a consortium or self-fund a takeover at Telegraph Media Group, the Guardian understands.
RedBird Capital was part of the joint venture with Abu Dhabi-based IMI that took control of the publishing group in November 2023 after agreeing to pay debts owed by the previous owners, the Barclay family, to Lloyds Banking Group.
However, RedBird IMI - 75%-funded by Sheikh Mansour bin Zayed al-Nahyan, vice-president of the United Arab Emirates and owner of Manchester City football club - was forced to put the titles back up for sale last spring after the British government passed a law blocking foreign states or associated individuals from owning newspaper assets in the UK.
This story is from the April 28, 2025 edition of The Guardian.
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