RedBird Capital Partners has struck a deal to accumulate the Telegraph Media Group for £500 million ($674.2 million), marking the biggest funding in U.Okay. print media in a decade and positioning the non-public fairness powerhouse as certainly one of Britain’s greatest media gamers.
With the acquisition of the 170-year-old newspaper model, RedBird is planning important capital investments in digital operations, AI-powered analytics, and worldwide enlargement — notably focusing on the U.S. market the place the agency already has substantial media holdings.
“This transaction marks the beginning of a brand new period for The Telegraph as we glance to develop the model within the U.Okay. and internationally, put money into its expertise and increase its subscriber base,” stated Gerry Cardinale, RedBird’s founder and managing associate. “We imagine that the U.Okay. is a superb place to speculate, and this acquisition is a crucial a part of RedBird’s rising portfolio of media and leisure corporations within the U.Okay.”
The deal expands RedBird’s British media empire, which incorporates Premier League champions Liverpool FC, tv manufacturing big All3Media, Fulwell Leisure (the corporate behind James Corden’s “Late” ventures), and video gaming studio Construct a Rocket Boy. The agency can also be set to accumulate Channel 5 as a part of Skydance Leisure’s mega-merger with Paramount World.
Anna Jones, CEO of Telegraph Media Group, stated: “Telegraph Media Group is an award-winning information media group, with distinctive journalism at its coronary heart, supported by main industrial experience, a dedication to innovation and a laser concentrate on information to drive technique. RedBird Capital Companions have thrilling development plans that construct on our success – and can unlock our full potential throughout the breadth of our enterprise.”
Chris Evans, editor of The Daily Telegraph, added: “The Telegraph has made monumental progress in recent times for the reason that launch of its digital subscriptions technique, because of the arduous work of its sensible employees. However there may be rather more that may be achieved. With the best plan and the best funding by bold new homeowners, this venerable title can look ahead to an period of unprecedented success.”
RedBird’s flagship investments embrace Skydance Media (Larry and David Ellison) and its pending merger with Paramount World, AC Milan, Fenway Sports activities Group (Boston Purple Sox, Liverpool FC, Pittsburgh Penguins, PGA Tour), the Yankees Leisure & Sports activities (YES) Community (New York Yankees and Amazon), Artists Fairness (Ben Affleck and Matt Damon), the United Soccer League (Disney/ESPN, Fox and Dwayne Johnson), the Indian Premier League’s Rajasthan Royals, and Method One’s Alpine Racing group.
RedBird is bringing on choose U.Okay.-based minority buyers with print media experience, whereas Worldwide Media Investments will take part as a minority stakeholder pending regulatory approval relating to international possession thresholds.
Past leisure, RedBird has constructed a $12 billion asset administration enterprise with important holdings in monetary companies, together with Arax wealth administration and Aquarian insurance coverage platform.
