Lloyds Banking Group, which is owed about £1 billion by the Barclay family, which also owns the Daily and Sunday Telegraph and The Spectator, has placed the newspapers' indirect holding company into receivership.
The sale is expected to be one of the most hotly contested media auctions in Britain and will likely draw interest from billionaires, Tory donors, and other media groups.
The new board of TMG's parent company, Press Acquisitions, is currently exploring the possibility of appointing an investment bank to sell the newspapers.
The sale process is expected to be launched in the coming weeks.
LONDON DAILY ARCHIVE
Telegraph Media Group Put Up for Sale in £600 Million Deal
The Daily Telegraph's parent company, Telegraph Media Group (TMG), is close to selling the newspaper publisher for approximately £600 million.
29 June 2023 · 23:39 UTC
