Overview
- RedBird Capital confirmed it has withdrawn its £500m offer for Telegraph Media Group.
- The collapse throws the titles’ future back into uncertainty, with reporting indicating a fresh auction is likely early next year.
- The shelved structure envisaged IMI holding a 15% stake, with funding from Lord Rothermere and Sir Leonard Blavatnik at roughly 10% each.
- The bid faced internal resistance and reporting on alleged China links, including a 2024 photo of RedBird chair John Thornton with senior official Cai Qi.
- DCMS had been weighing possible action, including Ofcom and competition scrutiny, after independent TMG directors flagged alleged remarks by Gerry Cardinale about the newsroom.