COMPETITIVE · UK
Axel Springer acquisition of the Daily and Sunday Telegraph
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Axel Springer agreed an all-cash £575m deal to acquire the Daily and Sunday Telegraph, displacing a rival £500m deal from Daily Mail & General Trust.
Why it matters
Axel Springer tabled a £575m offer to acquire the Telegraph. An all-cash deal was agreed for the Daily and Sunday Telegraph. The £575m offer is described as a significant premium to a £500m deal from Daily Mail & General Trust. DMGT had been close to securing a deal to take control of the Telegraph titles after receiving UK government permission to take over the right-to-buy option from RedBird IMI.
Implications
- • DMGT’s competing £500m deal is displaced by Axel Springer’s agreed £575m all-cash deal.
Who is affected
- • Newspaper publishers and media groups
- • Newsroom employees at the Daily and Sunday Telegraph
Source
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