$655M proposal would unite British media rivals - UPI.com

Nov. 22 (UPI) -- Two of the United Kingdom's largest media outlets and traditional competing newspapers would unite under a proposed $655 million sale.

Publisher Daily Mail and General Trust announced it has begun negotiations with RedBird IMI to buy the Daily and Sunday Telegraph newspapers for $655 million

RedBird IMI is a joint venture between U.S.-based RedBird Capital Partners and the United Arab Emirates-based IMI.

"The Daily Telegraph is Britain's largest and best quality broadsheet newspaper, and I have grown up respecting it," DMGT Chairman Jonathan Rothermere said in a statement shared with The New York Times.

$655M proposal would unite British media rivals - UPI.com

Other newsrooms on this story

Related reading

Daily Mail owner agrees to buy Daily Telegraph for £500m

Daily Mail owner strikes £500m deal to buy Telegraph titles

U.S. firm RedBird Capital reaches deal to purchase Britain's Telegraph Media…

Daily Mail owner strikes £500 million deal to buy The Telegraph

Il fondo Usa RedBird annuncia l'acquisizione del Telegraph - Notizie - Ansa.it

Daily Telegraph: RedBird Capital pulls out of deal to buy newspaper