LONDON: British right-wing newspaper The Telegraph has agreed a deal that would see it purchased by US investment group RedBird Capital Partners for £500 million ($670 million), the pair announced Friday.
RedBird has struck an “in-principle agreement” to purchase The Telegraph Media Group (TMG), which comprises the 170-year-old paper’s print and online operations, a joint statement said.
It concludes a protracted sale lasting around two years, which has involved an intervention by the previous Conservative government.
US-Emirati consortium RedBird IMI had already struck a deal for TMG in late 2023.
RedBird Capital Partners on Friday said the agreement struck with TMG makes it “the sole control owner” and “unlocks a new era of growth for the title” founded in 1855.
“RedBird’s growth strategy will include capital investment in digital operations, subscriptions and journalism as it looks to expand The Telegraph internationally.”
The US group added it is in “discussions with select UK-based minority investors with print media expertise and strong commitment to upholding the editorial values of The Telegraph.”

Riyadh: Asharq Network has won the “Telly Company of the Year” award for the second consecutive year.

The accolade recognizes the network’s efforts in producing impactful, high-quality content. In total, Asharq Network received 160 awards across various categories, including 25 gold, 76 silver and 59 bronze.

The network stood out among 13,000 record-breaking entries from five continents. Its winning work includes content from across all Asharq Network brands, including Asharq News, Asharq Business with Bloomberg, Asharq Documentary, Asharq Discovery.

“We are deeply honored to receive the Telly Company of the Year award for the second consecutive year. This achievement reflects the hard work, creativity and passion of our entire team, who continue to push the boundaries in creativity and media,” said Nabeel Alkhatib, general manager of Asharq News.

“This recognition reinforces our commitment to providing our audience with the most insightful and engaging content, tailored to the evolving needs of the Arabic-speaking world.”

Mohammed Alyousei, general manager of Asharq Discovery and Asharq Documentary, said: “Receiving this honor is a profound affirmation of our team’s unwavering commitment to excellence and innovation. This global recognition motivates us to continue pushing the boundaries of storytelling, ensuring that we deliver narratives that resonate and make a meaningful impact.”

Asharq Network’s storytelling and production quality were recognized across multiple categories. Asharq News and Asharq Business standout wins included coverage of the “US Elections Campaign,” the immersive VR Story on the “Destruction of Gaza,” the “Year-Ender 2024 Promo,” and the innovative “Business Image Promo — Connect the Dots.”

Asharq Documentary’s powerful “Faces” series was honored alongside compelling promos for the original documentaries “Under the Rubble,” “Beyond Sednaya,” “Moataz Aziza,” “Amazing Mercy of Tents” and “Dooms Day.” Meanwhile, Asharq Discovery’s gripping “Dark Minds” series and the dynamic “Shark Week” idents captured the judges’ attention, showcasing the network’s creative versatility and commitment to impactful content.

Steven Cheak, director of creative and branding services at Asharq Network, said: “Winning at the Telly Awards once again is a monumental achievement for our young and passionate team. Competing among such esteemed global brands only motivates us to continue elevating the standard of content creation. This year’s win underscores the brilliance of teams working well together, embracing technology, to achieve content that engage and resonate with our audiences. It’s truly inspiring to see our work being acknowledged globally, and this recognition fuels our passion to continue innovating, creating and telling stories that matter.”

The Telly Awards, established in 1979, are one of the most respected global awards programs, celebrating the best in video and television content. The awards cover a diverse range of categories, from traditional television commercials to cutting-edge digital media.