• by Ray Schultz , over 1 hour ago

Days after Redbird Capital Partners withdrew from a deal to acquire the UK’s Telegraph Media Group, DMGT, parent of the Daily Mail, has announced it is buying the conservative Daily Telegraph for an estimated $655 million. 

DMGT has signed an agreement with Redbird, an American firm that owns a controlling interest, and plans to finalize the deal and prepare the needed regulatory submissions shortly. 

The Daily Telegraph would join the conservative-leaning Daily Mail and The Mail on Sunday, Metro, The i Paper and New Scientist at DMGT. 

 “I have long admired the Daily Telegraph,” says Lord Rothermere, chairman. “My family and I have an enduring love of newspapers and for the journalists who make them. The Daily Telegraph is Britain’s largest and best quality broadsheet newspaper, and I have grown up respecting it. It has remarkable history and has played a vital role in shaping Britain’s national debate over many decades.”

He adds, “Chris Evans is an excellent editor, and we intend to give him the resources to invest in the newsroom. Under our ownership, the Daily Telegraph will become a global brand, just as the Daily Mail has.”

The deal will comply with the UK’s Foreign State Influence regime.