Acquisition likely to trigger in-depth investigation by regulator after agreement between DMGT and Redbird IMI
Acquisition likely to trigger in-depth investigation by regulator after agreement between DMGT and Redbird IMI
The owner of the Daily Mail has struck a £500m deal to buy the Telegraph titles, in a move that will create a right-leaning publishing powerhouse.
Lord Rothermere’s Daily Mail & General Trust (DMGT) has entered a period of exclusivity with RedBird IMI, which has been seeking a buyer since being forced to put the papers up for sale last spring, to complete the terms of the transaction.
The two parties say they expect this process to “happen quickly”, however the deal is likely to trigger an in-depth investigation by the media regulator Ofcom and the Competition and Markets Authority (CMA).
The creation of a large rightwing media organisation will spark concerns in Labour ranks, at a time when Reform UK is riding a wave of popularity against the government.
“It is almost impossible to overstate the feelings of fear and hostility the Telegraph and Mail incite in many Labour politicians – including senior members of the government,” said a former Labour adviser close to No 10.
“They have jointly been responsible for numerous stories and sustained campaigns that have ended cabinet careers.”
DMGT, which owns a stable of titles including Metro, the i Paper and New Scientist, already handles the advertising contract for the Telegraph titles.
