❓WHAT HAPPENED: RedBird Capital has withdrawn its £500 million (~$658 million) bid for the Telegraph Media Group, ending a two-year takeover process.
👤WHO WAS INVOLVED: RedBird Capital Partners, IMI, Telegraph Media Group, and its employees, including editor Chris Evans and CEO Anna Jones.
📍WHEN & WHERE: The announcement was made this week, following a process that began in 2021 in the United Kingdom.
💬KEY QUOTE: “The Telegraph deserves owners who care about journalism and who will invest.” – Chris Evans
🎯IMPACT: The future ownership of the Telegraph Media Group remains uncertain, with efforts now shifting to find a new buyer.
RedBird Capital Partners has withdrawn its £500 million (~$658 million) bid to acquire Britain’s Telegraph Media Group, ending a takeover saga that has lasted more than two years. A spokesman for RedBird said, “We remain fully confident that the Telegraph and its world-class team have a bright future ahead of them and will work hard to secure a solution which is in the best interests of employees and readers.”
The decision follows internal resistance from senior staff as well as scrutiny triggered by the bid’s structure. Chris Evans, editor of The Telegraph newspaper, acknowledged the widespread concerns across the newsroom, saying, “It’s no secret that all senior editors and many writers had concerns about the bid. On the other hand, it’s also obvious that this process has gone on far, far too long. The Telegraph deserves owners who care about journalism and who will invest.”
Telegraph Media Group CEO Anna Jones thanked employees for enduring the prolonged period of uncertainty, saying, “I will now work with the board of independent directors on next steps and what this means for the future ownership of the business. This process has been challenging and unpredictable but your hard work and continued patience is a credit to you all.”
RedBird’s withdrawal marks the second failed attempt to bring the Telegraph under the influence of its partnership, led by former CNN president Jeff Zucker and Abu Dhabi–backed International Media Investments (IMI). Zucker was previously linked to attempts to take over both the Telegraph and The Spectator in 2023, raising questions about foreign influence over British media. Those plans stalled after the British government introduced legislation preventing foreign governments from owning British newspapers. Zucker’s involvement again drew scrutiny in 2024 and 2025, with critics pointing to IMI’s close ties to the United Arab Emirates (UAE). Zucker insisted he would resign if any interference occurred.
The collapse of the latest deal leaves The Telegraph back on the market as its board searches for a buyer who can satisfy political, regulatory, and editorial expectations at a time when the broader British media industry faces an escalating crisis of confidence. The BBC, for instance, is confronting significant turmoil over a purposely falsified speech by President Donald J. Trump on January 6, 2021, to make it appear he had incited violence. The fallout triggered the resignation of senior BBC executives, including Director-General Tim Davie, and has intensified public scrutiny of journalistic standards across major British outlets.
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