• by Ray Schultz , Yesterday

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.