Axel Springer Acquires Telegraph for 575 Million Pounds

German media company Axel Springer has acquired the owner of The Telegraph newspaper for 575 million pounds, ending a prolonged ownership battle for the British publication and marking the company's largest expansion into the United Kingdom market.

The deal, announced Friday, involves Telegraph Media Group, which publishes the 171-year-old Daily Telegraph, its Sunday edition and the online platform Telegraph.co.uk. Previously controlled by the Barclay family, the group was placed up for sale in June 2023 to settle substantial debts owed to Lloyds Banking Group. A proposed purchase by RedBird IMI, a private equity consortium backed in part by Abu Dhabi interests, collapsed last year amid regulatory concerns over foreign state influence in British media. That paved the way for Axel Springer to secure the asset from RedBird IMI after swift negotiations.

The acquisition disrupts a competing offer from Lord Rothermere, proprietor of the Daily Mail, who had agreed to buy the titles for 650 million pounds. Axel Springer, founded in 1946 in postwar Germany and now headquartered in Berlin, operates in more than 25 countries with over 10,000 employees. Its portfolio includes the German...