"More than 20 years ago, we tried to acquire The Telegraph and did not succeed. Now our dream comes true. The Telegraph stands for freedom, personal responsibility, democratic values and a belief in open societies and market economies. These convictions closely align with our Axel Springer essential values."
"Axel Springer said it would invest in the group to enable it to become the leading center-right media outlet in the English-speaking world seeking to turbocharge expansion into the US market. Both sides said the deal would preserve the integrity of the long-standing media brand while creating new opportunities for growth and expansion into additional markets."
Axel Springer, a Berlin-based media group, agreed to purchase Telegraph Media Group from investor RedBird IMI for 575 million pounds. The Telegraph, a 171-year-old right-leaning British newspaper, includes the Daily Telegraph and its Sunday sister publication. Axel Springer CEO Mathias Dopfner stated the acquisition fulfills a 20-year goal and emphasized editorial independence remains sacrosanct. The company plans to invest in the Telegraph to establish it as the leading center-right media outlet in the English-speaking world, with expansion into the US market. Axel Springer already owns major publications including Bild, Welt, Business Insider, and Politico. The deal requires approval from relevant authorities.
Read at www.dw.com
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