Alden Global Capital expressed surprise at the rejection of its $16.50 offer for The Dallas Morning News, particularly since it wasn’t even considered for discussion.
The government legislation allowing foreign states to own up to 15% in British newspapers survived a potentially fatal vote in the House of Lords, ensuring RedBird Capital's purchase of the Telegraph can proceed.
"There was an increasing demand from clients to have a full-funnel approach," said Gilbert. "So we started looking around at the various agencies in the market, and when we came across Exverus, it was like a light went [on]."
Early discussions are taking place between Skydance founder David Ellison and journalist Bari Weiss about acquiring her online publication, The Free Press, although a deal remains uncertain.