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Barclays deny Telegraph group receivership talk
Evening Standard
|June 07, 2023
THE owners of the Daily and Sunday Telegraph today dismissed talk that the business could be forced into administration as "unfounded and irresponsible" as the row over the future of the newspaper publishing group deepened.
Reports overnight said Lloyds Banking Group is threatening to put Press. Acquisitions, the holding company that owns Telegraph Media Group, into receivership. There has been a breakdown in talks on loans, said the reports.
Lloyds is owed tens of millions of pounds by the media group, said Sky, which reported that the bank is being advised by Lazard on its strategy.
The Telegraph Group was bought by Sir David and Sir Frederick Barclays in 2004 for £665 million. Last year, it had revenues of £245 million on which it made a profit of nearly £30 million. It also owns The Spectator.
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