Rupert Murdoch ’s News Corp. and the owner of the Daily Mail have held talks about a potential joint takeover of the Telegraph — one of the UK’s most famous newspapers — alongside the UAE-backed investment fund RedBird IMI, people familiar with the matter said. A joint bid by the three would result in a smaller stake for RedBird IMI, which may ease concerns by British politicians over foreign state control of a legacy media outlet, said the people, who asked not to be identified discussing private talks. Representatives from the Daily Mail and General Trust — owner of the Daily Mail newspaper controlled by Jonathan Harmsworth — and News Corp.’s News UK unit have held back-channel conversations on how to form such a joint structure, they said.

Source: Daily Mail March 11, 2024 20:35 UTC