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News Corp eyes joint Telegraph bid with Daily Mail, Jeff Zucker’s RedBird: report

By
Reuters
Published March 11, 2024
Updated March 11, 2024, 5:47 p.m. ET

News Corp and the owner of the Daily Mail have held talks about a potential joint takeover of the Telegraph alongside the UAE-backed investment fund RedBird IMI, Bloomberg News reported Monday, citing people familiar with the matter.

A joint bid by the three would result in a smaller stake for Jeff Zucker’s Redbird IMI, according to the report.

Telegraph newspaper
The Abu Dhabi-backed buyout of the Telegraph has provoked fears of foreign influence in news reporting. Getty Images

The Abu Dhabi-backed buyout of the paper, which voices opinions within the governing Conservative Party, has provoked fears of foreign influence in news reporting which opponents say could threaten Britain’s democracy.

Under one scenario that has been discussed, RedBird IMI would take a stake as low as 25% in the Telegraph in an attempt to satisfy concerns about foreign state interference, Bloomberg News reported.

News UK, RedBird IMI and the Telegraph declined to comment, while the Daily Mail did not immediately respond to a Reuters request for comment.

News Corp is the parent of the New York Post.