European media firm Axel Springer has agreed to purchase the Telegraph Media Group (TMG) in a deal costing £575m.
The Daily Mail and General Trust (DGMT) proposed to buy the company in a £500m takeover, but the government ordered an investigation on public interest and competition grounds.
TMG owns The Daily Telegraph and The Sunday Telegraph, The Telegraph Magazine and the website and app.
Axel Springer chief executive, Mathias Dopfner, said he wanted to "preserve the distinctive character and legacy" of The Telegraph.
"More than 20 years ago, we tried to acquire The Telegraph and did not succeed. Now our dream comes true," he added.
