US investment group RedBird Capital Partners announced on November 14 it had abandoned its takeover of The Telegraph. Richard A. Brooks/AFP/Getty Images

RedBird Capital withdrew its £500 million bid for the Telegraph Media Group on Friday, leaving the fate of the major British publisher unclear.

“RedBird has today withdrawn its bid for the Telegraph Media Group,” a representative for private equity firm RedBird Capital Partners told CNN. “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.”

RedBird’s decision not to pursue The Telegraph throws a wrench in the outlet’s bid to grow its business in the United States, even as its rivals — in

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