LONDON DAILY ARCHIVE

Telegraph Takeover Decision Delayed by Fresh Inquiry into Barcl

The UK government has delayed its decision on the Barclay family's sale of the Telegraph to a UAE-supported consortium due to a new inquiry. This second review was initiated when the consortium, partly funded by UAE's Sheikh Mansour, disclosed a last-minute change to include a UK holding company for the media titles. Culture Secretary Lucy Frazer ordered both Ofcom and the CMA to re-evaluate the deal for its potential impact on news integrity and competition, with their reports due by March 11. A more extensive probe may follow, potentially lasting beyond the upcoming general election.

28 January 2024 · 17:11 UTC

RedBird IMI, led by ex-CNN head Jeff Zucker and funding most of the £1.16 billion to clear the Barclays' debt with Lloyds bank, promises to be a "passive investor" without editorial control. Zucker has committed to safeguarding the journalistic independence of the Telegraph. The media group also named Anna Jones, formerly with Hearst Magazines UK, as its new CEO, replacing Nick Hugh.