As the dust settles from the battle for the ownership of the Daily Telegraph , one man has been left standing: Lord Rothermere, whose family have been a mainstay of British newspapers for more than a century.

“This is a very British stitch-up,” said Lionel Barber, the former editor of the Financial Times. “Lord Rothermere has played a very astute poker hand, he’s shown patience and he’s the big winner.”

The announcement on Saturday morning that the Daily Mail and General Trust (DMGT) had agreed a £500m deal with the Daily Telegraph’s owners, RedBird IMI, could bring to an end a saga that began in 2023 when both Telegraph titles and the Spectator magazine were put up for sale due to debts owed by the Barclay family.

RedBird Capital, the US group led by Gerry Cardinale, had dropped i

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