Receive free Telecom Media Group Ltd updates
we will send you myFT Daily Digest Email summary of latest news Telecom Media Group Limited There is news every morning.
Germany’s Axel Springer has expressed interest in buying Telegraph Media Group, becoming the latest in a series of international investors lining up to bid for the British publisher.
The Berlin-based media company has “expressed interest” to the bankers responsible for selling the parent company of The Daily Telegraph, The Sunday Telegraph and The Spectator magazine, according to a person familiar with the matter.
Axel Springer, who owns Die Welt and Bild, is keen to expand into the German-speaking media world under Mathias Döpfner outside. It almost bought the Financial Times in 2015 and the political news site Politico in 2021.
Axel Springer declined to comment on the news, which was first reported by Sky News.
In 2004, the Barclays family acquired Telegraph Group for £665 million. But they lost control of their media empire in June when it was seized by Lloyds Banking Group. Barclays owes the bank more than £1bn.
Other potential bidders who have expressed interest include DMGT, the company behind the Daily Mail, which has been seeking an external financial partner for the bid. Former Telegraph editor Sir William Lewis and Czech billionaire Daniel Kretinsky are also interested.
Murdoch’s News UK newspaper group is also keen on bidding. People close to the British news agency said Rupert Murdoch was particularly interested in The Spectator.
The Barclays family is trying to buy back the company and is seeking help from Middle Eastern investors to regain control.
It is estimated the group could fetch more than £500m at an auction. People familiar with Axel Springer’s plans said it “seems too expensive for a traditional printing business.”
Former Telegraph co-owner Howard Barclay told the court in July that potential buyers of the media group viewed it as a “distressed asset”, adding: “It would not be a Assets that are easily sold”.
The sale process could face regulatory scrutiny over competition.
Svlook
