Daily Mail owner strikes $654 million deal to acquire The Telegraph

Daijiworld Media Network – London

London, Nov 23: The Daily Mail and General Trust (DMGT) has signed a $654 million (£500 million) agreement with US-Emirati consortium RedBird IMI to acquire The Telegraph newspaper, DMGT announced on Saturday.

The deal comes after RedBird Capital Partners had abruptly abandoned its takeover last week, leaving the paper’s future uncertain and extending a sale process that has been in limbo for over two years.

DMGT, which also owns Metro and The i Paper, said the deal will provide “much-needed certainty and confidence” to The Telegraph’s staff. The publisher plans to accelerate the newspaper’s international expansion, particularly in the United States, while ensuring editorial independence from other titles.

RedBird IMI, a joint venture between RedBird