"More than 20 years ago, we tried to acquire The Telegraph and did not succeed. Now our dream comes true," Axel Springer CEO Mathias Döpfner said. The German company owns titles including the Bild and Welt newspapers and the political information group Politico."
"Axel Springer said it will invest in the group "to enable it to become the leading center-right media outlet in the English-speaking world" and "turbocharge" expansion into the U.S. market."
"The consortium pulled out in 2024 following strong opposition from the U.K. government, which launched legislation to block foreign state ownership of the British press."
Axel Springer, a German media conglomerate, has purchased Telegraph Media Group for 575 million pounds, acquiring the 171-year-old Daily Telegraph and its Sunday edition. The acquisition concludes a prolonged ownership dispute following the Barclay family's 2023 sale to address family debts. Axel Springer plans substantial investment to establish the Telegraph as the premier center-right media outlet in the English-speaking world and accelerate U.S. market expansion. The deal supersedes a competing bid from the Daily Mail's owner and a previous consortium offer from RedBird IMI and Sheikh Mansour bin Zayed Al Nahyan, which withdrew after UK government opposition to foreign state press ownership. Axel Springer, which owns Bild, Welt newspapers, and Politico, views this acquisition as fulfilling a two-decade ambition.
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