Daily Mail Owner Reaches $650m Deal to Acquire The Telegraph

The Daily Mail and General Trust (DMGT), owner of the Daily Mail, has announced a landmark agreement to acquire The Telegraph in a deal valued at £500 million (about $650 million).

The proposed takeover, disclosed on Saturday, positions DMGT to form one of the most influential right-leaning media blocs in the United Kingdom, pending regulatory approval.

The deal comes after U.S.-based RedBird Capital Partners withdrew its bid last week. RedBird-IMI — a joint venture that previously bought Telegraph Media Group and The Spectator in 2023 — faced intense regulatory pushback after the UK government moved to block foreign state-backed investment in British newspapers.

Although RedBird revised its proposal to limit Abu Dhabi-backed IMI to a 15% minority stake, internal resistance from senior Telegraph staff and slow regulatory processing ultimately led to the consortium withdrawing. A source close to RedBird said the £500 million price tag was designed to reimburse funds already spent by the group.