Get the latest gossip
New All3Media Owner RedBird IMI Pulls Out Of Deal To Buy Daily Telegraph Following Press Freedom Concerns
RedBird IMI has pulled out of Daily Telegraph Deal after Lucy Frazer concerns and it will now sell Telegraph & Spectator back to a buyer.
Jeff Zucker and Gerry Cardinale’s RedBird IMI, the new Abu Dhabi-backed owner of All3Media, has pulled out of its deal to buy the UK’s Daily Telegraph following press freedom concerns. RedBird IMI will now have to effectively sell the Telegraph as it had already taken control of the British paper plus Spectator Magazine in December when it repaid owner the Barclay family’s debts, including a £600M ($753M) loan against the titles. The move comes months after RedBird IMI was prevented from bringing the deal home due to regulatory roadblocks amid concern at the upper echelons of UK government around press freedom.
Or read this on Deadline
