Abu Dhabi's International Media Investments (IMI) is purchasing a minority stake of no more than 15% in the Daily Telegraph's publisher, which US investment firm RedBird Capital Partners has agreed to acquire for around $674 million. This acquisition signals the end of a prolonged takeover effort and aims to enhance the brand's growth in the UK and beyond, particularly in technology and subscriber expansion. The sale follows a period of ownership by the Barclay family, who faced debts that necessitated the sale.
"The sale marks the start of a new era for The Telegraph as we look to grow the brand in the UK and internationally, invest in its technology and expand its subscriber base."
"The Telegraph group, previously owned by the UK's Barclay family, was put up for sale two years ago to help pay off the family's debts."
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